EUR/USD Daily Forecast – 09 December

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Tuesday, Dec 08 2015

Euro spent most of the yesterday's session in an uptrend, after it found area around 1.08 handle to be supportive on Monday, and tested 1.09 handle as a resistance. It seems that euro will now spend some time in consolidation range between 1.08 and 1.10 handle, especially since there will be no major data releases tomorrow as well.

With that being the case we believe that any type of supportive candles around 1.08 handle will offer short-term buying opportunity, while resistive candles around 1.0930 level initially and 1.0950 handle in extension would be short-term selling signal. In long-term trends, we would remain on the sidelines for this pair as long as we are within this consolidation range. If we see break below or above any of the aforementioned levels we would reassess the situation.

More in this category: « GBP/USD Daily Forecast – 09 December AUD/USD Daily Forecast – 10 December »

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