EUR/USD Daily Forecast – 15 December

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Monday, Dec 14 2015

After it was initially pushed lower in the course of the yesterday's session, pair found support around 1.0950 area and bounced in the US part of the session as traders are being cautious ahead of Fed rate decision. Pair broke above 1.10 handle and tested 1.1050 level as a resistance after which it pulled back. Daily candle is a hammer which is of course a positive sign. Focus of tomorrow's session will be on ZEW Economic Sentiment figures and US CPI data.

Pair is likely to find support around 1.0950 level, around yesterday's low, and resistance above 1.1050 and 1.1080 level in extension. In long-term trends, despite this uptrend, we would not place any larger buying bids until we see break above 1.11 handle. Selling is not an option at the moment.

More in this category: « GBP/USD Daily Forecast – 15 December AUD/USD Daily Forecast – 16 December »

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