EUR/USD Daily Forecast - 22 December
Friday brought further decline to euro, despite incline in German consumer confidence, with euro finishing the session around 1.2230 level, falling after it was unable to break below 1.23 handle. On Monday, there will be no major data releases, with markets getting ready for holiday season so we cannot expect any huge movements.
Pair should find some support around 1.22 handle and 1.2180 level in extension, so this would be our short-term buying points. On the other side, area above 1.23 handle should be quite resistive so this is where we would consider selling the pair. Long-term looking, just as we have suspected recent incline that we have seen in the previous week was of the short-term basis and what we can expect now is that euro will resume this week's downtrend with a target set at 1.2050 level. With that being the case we have no interest in buying the pair at the moment.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419