EUR/USD Daily Forecast - 17 December

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Tuesday, Dec 16 2014

Euro finished session on Tuesday few points above 1.25 handle. It was supported by better than forecasted Economic Sentiment figures. As for tomorrow, we can expect a bit steadier European part of the session since there will no major data release. Main market mover will FOMC interest rate decision and the following Statement.

However, we believe that we cannot expect euro above 1.26 handle even in a case of a dovish statement, so any type of resistive candles around 1.2580 area would be short-term selling signal. On the other hand 1.24 handle proved to be supportive this week so we believe that this will be the case tomorrow as well. In long-term trends we are still far from buying this pair, despite this uptrend. Resistance for this pair stretches all the way to 1,.30 handle so we believe that this kind of rallies are just another selling opportunity.

More in this category: « GBP/USD Daily Forecast - 17 December AUD/USD Daily Forecast - 18 December »

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