EUR/USD Daily Forecast – 22 December

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Monday, Dec 21 2015

Euro was pushed higher in the course of the yesterday's session, though there were no major data releases. Pair found area around 1.0850 level to be supportive enough at the moment, and bounce out all the way to 1.0930 level which offered some amount of resistance at the moment, just as we have suspected. With no major data releases tomorrow, we can expect similar session.

Pair is likely to find support around 1.0850 level, so this would be our short-term buying point and resistance above 1.0930 level, initially, and 1.0960 area in extension so these would be our short-term selling points. Long-term looking, we have no interest into getting involved in this market at the moment. It seems to be stuck in consolidation between 1.08 and 1.10 handle , and with holiday season coming we can expect a bit less liquidity.

More in this category: « GBP/USD Daily Forecast – 22 December AUD/USD Daily Forecast – 23 December »

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