EUR/USD Daily Forecast - 29 December

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Friday, Dec 26 2014

Euro spent less volatile Friday's session in a downtrend finishing it above 1.2170 level which offered support during the day. It was a less eventful session with some of the European banks being closed in observance of Boxing Day holiday. Monday's session will not bring any huge movements as there will be no data releases both from Eurozone and USA.

Any type of supportive candles around 1.2150 level should offer short-term buying opportunity, while resistive candles around 1.2230 area should indicate short-term selling signal. In long-term trends, 1.2050 level remains our target for this pair at which point we can expect some bounce out since this is the area from where euro started its uptrend which is now completely broken.

More in this category: « GBP/USD Daily Forecast - 29 December AUD/USD Daily Forecast - 30 December »

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