EUR/USD Daily Forecast – 30 December

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Tuesday, Dec 29 2015

After it initially once again tested area near 1.10 handle as a resistance, pair sharply pulled back in the US part of the session, going all the way to 1.09 handle. These kind of movements do not come as a surprise in a holiday trading. However, pair managed to find some amount of support around 1.09 handle and rebounded slightly by the end of the session.

As for tomorrow, we believe that pair will find support around 1.0880 level and 1.0850 so this is where we would place short-term buying bids, while around 1.0980 and 1.10 handle is where we would consider short-term selling. Despite this decrease we have no interest in getting involved in this market, as long as we are within consolidation range between 1.08 and 1.10 handle.

More in this category: « GBP/USD Daily Forecast – 30 December AUD/USD Daily Forecast – 31 December »

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