EUR/USD Daily Forecast – 21 December
Euro tried to break higher during the Friday's session using 1.08 handle as a springboard, but did not manage to break any higher from 1.0860 level which indicates that there is a selling pressure in the pair, but also that 1.08 handle is significant support at the moment.
With no major data releases on Monday, we expect a bit less volatile session, in which any type of supportive candles around 1.08 handle would offer short-term buying opportunity, while resistive candles in area between 1.0880 level and 1.09 handle should be short-term selling signal. In long-term trends, if we see break below 1.08 handle we would be more than willing to start selling the pair with target set at 1.05 handle, though it would not be an easy way down. We have no interest in buying this pair, as long as area above 1.10 handle offers significant amount of resistance. But, at the moment, we would remain aside.
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