EUR/USD Daily Forecast - 19 December

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Thursday, Dec 18 2014

Euro continued its downtrend during the yesterday's session finishing it around 1.2280 level, despite incline in German business climate. We can expect a less volatile session tomorrow, since only German Consumer Climate figures are being released, in which pair is likely to find support around 1.2220 level and resistance near 1.2350 area

so these would be our short-term buying and selling points. Downtrend in pair is more than obvious, so we would use any rallies at this point in time as a selling opportunities as euro is heading towards 1.2050 area from where we can expect some bounce out according to long-term charts.

More in this category: « GBP/USD Daily Forecast - 19 December AUD/USD Daily Forecast - 22 December »

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