EUR/USD Daily Forecast – 05 December

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Monday, Dec 04 2017

EUR/USD Daily Forecast – 05 December

Euro was pushed lower in the course of the yesterday's session going all the way to 1.1820 area at one point, where it found some amount of support and managed to rebound slightly in order to finish the session around 1.1850 level. As for tomorrow, with no major data releases we expect a less volatile session. Any type of supportive candles around 1.1820 and 1.18 area would be short-term buying signal, while resistive candles above 1.1880 and 1.19 level would be short-term selling opportunity.

In long-term trends, we would be buyers for this pair, despite this pullback. We expect plenty of support around 1.15 handle, but also plenty of resistance near 1.20 area.

More in this category: « GBP/USD Daily Forecast – 05 December AUD/USD Daily Forecast – 06 December »

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