Analysis Technical analysis

The Daily Market Watch: EURUSD, USOIL & GBPUSD (22.12.21)

Euro has not been able to make a clear break above $1.13 and it’s trading 0.13% lower on Wednesday. The corrective structure hints at a breakdown below the 62% Fibonacci.

Contrary, oil has made an incredible comeback from the 62% Fibonacci on Tuesday and continues to be biased to the upside as it holds a firm gain of 0.22% above $71.

The pound is not seeing a strong bounce off the $1.3175 support despite registering a quadruple low there. Unchanged so far, it might move slightly higher before falling through the 38% Fibonacci.

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