EUR/USD Daily Forecast – 29 December

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Monday, Dec 28 2015

Euro was initially pushed higher in the course of the yesterday's session, closing to 1.10 handle, but with a lack of volatility due to holiday season pair was unable to break above it and pulled back by the end of the session.

We can expect lack of volatility tomorrow as well, with pair finding support around 1.0930 level and 1.09 handle in extension and resistance around 1.10 handle, so these would be our short-term buying and selling points. On a long-term basis, we have no interest in getting involved in this market as long we are within consolidation range between 1.08 and 1.10 handle. Also, we can expect lack of liquidity throughout the week, so we would not place any larger bids at the moment, but do recognize that resistive candles around 1.10 handle could offer short-term selling opportunity.

More in this category: « GBP/USD Daily Forecast – 29 December AUD/USD Daily Forecast – 30 December »

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