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EUR/USD Weekly Forecast – 28 December – 01 January

Friday, Dec 25 2015

It was a bit steadier last week as there were no major data releases, and the end of the week was marked by Christmas holidays. After it was initially pushed lower pair managed to rebound and break once again to above 1.09 handle, with a weekly closing around 1.0950 level. We cannot expect any larger movements next week as well as holiday season should extend to New Year holidays.

We believe that pair is likely to find some amount of support around 1.0850 level and resistance above 1.10 handle as this is important level on long-term charts being round psychologically important figures. On a long-term basis, we would remain on the sidelines as pair is currently in consolidation between 1.08 and 1.1050 handle, and with lack of liquidity due to holiday season we cannot expect any larger movements at the moment.

More in this category: « GBP/USD Weekly Forecast – 28 December – 01 January AUD/USD Weeky Forecast – 04 January – 08 January »

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