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EUR/USD Daily Forecast – 10 December

Wednesday, Dec 09 2015

Though there were no major data releases yesterday, euro was pushed significantly higher, testing 1.10 handle as a resistance. This does not come as a surprise, as euro had potential for this incline ever since it broke higher last week. Now it is only question can pair break above this area which is important on long-term charts and continue higher with next major resistance at 1.12 handle.

As for tomorrow, we expect that pair is likely to find some amount of support around 1.0930 level which previously offered some amount of resistance, while 1.1080 handle is where we can expect next resistance. Long-term looking, we are not interested in selling this pair at the moment, while if we see break above 1.10 handle we would be more than interested to start buying the pair.

More in this category: « GBP/USD Daily Forecast – 10 December AUD/USD Daily Forecast – 11 December »

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