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EUR/USD Daily Forecast - 26 December

Wednesday, Dec 24 2014

After it initially went up euro found area around 1.2220 level to be too resistive at the moment, in order to pullback and finish the session around 1.22 handle. We cannot expect any larger movements tomorrow as it is Boxing Day and European banks will be closed in observance of it.

With that being the case we believe that 1.2220 level will continue to offer some amount of resistance so this is where we would sell the pair on a short-term basis, while 1.2160 level should offer plenty of support tomorrow so this is where we would consider buying the pair. Long-term looking, we can expect less volatility during this week, but general outlook still remains bearish so buying is not an option at the moment.

Last modified on Thursday, 25 December 2014
More in this category: « GBP/USD Daily Forecast - 26 December AUD/USD Daily Forecast - 29 December »

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