EUR/USD Daily Forecast - 31 December

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Tuesday, Dec 30 2014

Euro initially aimed lower during the yesterday's session, but with the decline in oil prices, it managed to rebound, though it found area below 1.22 handle to be too resistive at the moment in order to finish the session few points above 1.2150 level. We can expect a steadier session tomorrow, since it is New Year's Eve.

Any type of resistive candles around 1.22 handle would be short-term selling signal, while supportive candles around 1.2120 level would offer short-term selling opportunity. On a long-term basis, we believe that after the holiday season pair will head towards 1.2050 level, from where uptrend, which is now completely broken, started, and from where we can expect some bounce out.

More in this category: « GBP/USD Daily Forecast - 31 December AUD/USD Daily Forecast - 02 January »

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