Top Forex Brokers – Forex Weekly news and analysis For December 9 – 15, 2024
EURUSD is currently forming a head-and-shoulders pattern, with the 9-MA crossing above the 14-MA, suggesting potential growth. However, the resistance is still strong.
• If EURUSD bounces from the 1.0580 support, it could increase to 1.0700.
USDJPY navigates within a trendline and is currently sandwiched between 150.70 resistance and 149.50 support.
• A break above 150.70 could open the way to 155.30;
• A breaching below the trendline may bring the price back to 145.00.
XAGUSD navigates within a double-bottom pattern and retests its “base” at the 31.40 resistance, aligned with the 38.2 Fibonacci ratio.
• If the price breaks above the 38.2 Fibonacci, it may rise to 32.80 and the golden Fibonacci pocket.
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