On Friday we can expect a bit movement with Manufacturing PMI figures, but liquidity at the markets is till likely to be low. With that being the case we believe that pair is likely to find support around 1.2080 and 1.2050 in extension level, so this would be our short-term buying point and resistance near 1.2180 level so this is where we would consider selling the market. Long-term looking we have no interest in buying this market at the moment. Any rallies should offer short-term selling opportunity as market is likely to go much lower, with a target at 1.2050 level.
Last modified on Wednesday, 31 December 2014EUR/USD Daily Forecast - 02 January
Wednesday's session was a steadier one, since it was New Year's Eve, some of the European banks were closed in observance of it, and there were no major data releases. Pair spent most of the European part ofsession being traded around 1.2150 area, but in the US session pulled back to a daily closing around 1.21 handle.
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