December 31, 2021

EUR/USD Slows At The Close Of 2021 Trading

 As analysts had expected for the market movement at the end of 2021, the price did not give a clear direction by making volatility movements in a small range.

The price chart of the EUR/USD pair made a reversal in Thursday's trading failing to continue the surge displayed last Wednesday.

Prices have declined again since yesterday's Asian session with daily lows recorded around 1.13000.

The US dollar failed to dominate over the Euro despite the US unemployment claims data published yesterday positive with a lower -than -expected decline.

With the expectation that prices are likely to continue to move erratically on the last day of 2021, investors are more vigilant to be in the market and most market players are better prepared for the opening of the 2022 market.

Prices that also hovered at the Moving Average 50 (MA50) support level on the 1 -hour time frame also failed to give a clear price signal this weekend.

For the expectation of an upward movement, the resistance zone at 1.14000 is still an important target for price testing.

Meanwhile, if the price makes a decline, the price support zone is located around the level of 1.12500 or lower towards 1.12000.