EUR/USD Daily Forecast – 31 December

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Wednesday, Dec 30 2015

Euro was traded in a tighter range during the Wednesday's session, finding area around 1.09 handle to be supportive enough, but with resistance around 1.0950 level. As for tomorrow, we can expect steadier session with lack of volatility, and with some banks being closed in observance of New Year's Eve.

With that being the case, any type of supportive candles around 1.0870 level would offer short-term buying opportunity, while resistive candles above 1.0950 handle should be short-term selling signal. In long-term trends, we have no interest in getting involved in this market as long as we are in consolidation between 1.08 and 1.10 handle. However, we do recognize that after unsuccessful attempt to break above 1.10 handle pair could test bottom of consolidation range at 1.08 handle.

More in this category: « GBP/USD Daily Forecast – 31 December AUD/USD Daily Forecast – 04 January »

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