Any type of supportive candles slightly above 1.2410 level should offer short-term buying opportunity, while we expect resistance around 1.25 handle so this is where we would sell the pair on a short-term basis. On a long-term basis, we believe that resistance for this pair stretches all the way to 1.30 handle so buying is not an option at the moment.
EUR/USD Daily Forecast - 15 December
Euro was pushed higher in the course of the session on Friday finishing it above 1.2460 level. Good Industrial Production figures but more importantly weak US PPI data pushed euro higher ahead of the week where we can expect much more volatility. However, Monday should be less volatile as there will be no major data releases from Eurozone.
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