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EUR/USD Daily Forecast – 17 December

Wednesday, Dec 16 2015

Euro went back and forth during the yesterday's session mostly lingering around 1.09 handle., with pair remaining within its recent consolidation range. Despite Fed's decision to rise interest rates, this was not of that major impact as this was largely expected. This was mainly due to dovish following statement, in which Fed said that raise of rates will be only gradual and depending on data.

As for tomorrow, we can expect that pair will find some amount of support around 1.0850 and 1.08 handle in extension, while resistive candles above 1.10 handle 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 – 17 December AUD/USD Daily Forecast – 18 December »

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