EUR/USD Daily Forecast - 24 December

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Tuesday, Dec 23 2014

Euro fell below 1.23 handle in the course of the session yesterday after US GDP data showed much better than forecasted figures. Euro in the end finish the day around 1.2180 level. We cannot expect any large movements tomorrow, as it is Christmas Eve, and some of the European banks will be closed in observance of it.

Pair is likely to find support around 1.2150 area, so this would be our short-term buying point and resistance above 1.2220 level, which offered some amount of support lately so this is where we would sell the pair in short-term trends. In long-term trends, we feel more than comfortable with selling the pair at the moment, with a target placed at 1.2050 level. Buying is not an option at the moment, as USD will probably continue to strengthen.

More in this category: « GBP/USD Daily Forecast - 24 December AUD/USD Daily Forecast - 26 December »

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