EUR/USD Daily Forecast – 14 December

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Friday, Dec 11 2015

Euro spent most of the Friday's session in an uptrend, though there were no major data releases from Eurozone while US Retail Sales and PPI figures came even better than it was expected. Part of this incline can be contributed to falling oil prices but also the fact that traders are being cautious with US dollar ahead of Fed rate decision. With no major data releases on Monday, we can expect a bit less volatile session.

Any type of supportive candles around 1.0950 and 1.0930 level in a case of a larger decline would be short-term buying signal, while resistive candles around 1.1050 area should offer short-term selling opportunity. In long-term trends, we believe that if pair breaks above 1.11 handle it would offer buying opportunity, but at the moment, it seems that it is in consolidation between 1.08 and 1.10 handle, so we would not get involved until we get more clear picture.

More in this category: « GBP/USD Daily Forecast – 14 December AUD/USD Daily Forecast – 15 December »

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