Here are the details of the economic calendar for December 13, 2021

Monday was traditionally accompanied by an empty macroeconomic calendar. For this reason, market activity was low, and traders focused on technical analysis.

Analysis of trading charts from December 13:

The EUR/USD pair has been moving along a sideways trajectory for the second week in a row, consistently compressing the amplitude. This signals the end of the correction phase and the transition to the process of accumulation of trading forces.

The downward trend persists on the daily chart. A correction cycle appeared in its structure, and then stagnation in the form of a flat.

Following its European counterpart, the GBP/USD pair moves in flat mode, but at the same time concentrates within the base of the downward trend. This may signal a prevailing interest in short positions, followed by a breakdown of the pivot point.

December 14 economic calendar:

The UK labor market data were published today at 7:00 Universal time, where the unemployment rate fell from 4.3% to 4.2%, coinciding with the forecast. At the same time, employment in the country increased by 149 thousand in October with a forecast of 228 thousand. The number of applications for unemployment benefits decreased by 49.8 thousand in November.

The data on the labor market is not bad, but it is not better than expected. The pound sterling slowed down its upward course during the publication of statistics.

At 10:00 Universal time, data on industrial production in the eurozone will be published, where it will talk about a slowdown in growth from 5.2% to 2.9%. This is not the best signal for the euro.

During the American session, data on producer prices in the US are to be published, where they are forecast to rise from 8.6% to 9.2%.

Trading plan for EUR/USD on December 14:

The side channel in the range of 1.1265 / 1.1355 is still relevant in the market, so the trading method of breaking through one or another border is considered the main one in the market.

Trading recommendations

Buy positions should be considered after holding the price above 1.1360 in a four-hour period.

Sell positions should be considered after holding the price below 1.1260 in a four-hour period.

Trading plan for GBP/USD on December 14:

The signal to sell the pound sterling will come from the market when the price is held below the level of 1.3165 in a four-hour period. This step will lead to a prolongation of the downward trend, which allows us to move towards the psychological level of 1.3000 in the future. Until the breakdown of the reference value, the market remains flat.

What is reflected in the trading charts?

A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market.

Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are the reference points of the possible price direction in the future.