At the sight of resistive candles around 1.23 handle is where we would, at the moment, consider selling the pair. On the other hand, supportive candles around 1.2180 level and 1.2150 in extension should offer short-term buying opportunity. Long-term looking we are far from buying this pair and believe that it will head towards 1.2050 level, given enough time. This area proved to be supportive, according to long-term charts, so this is where we expect some bounce out.
Last modified on Friday, 19 December 2014EUR/USD Weekly Forecast - 22 December - 26 December
Euro fell sharply during the last week mostly due to more hawkish than expected Janet Yellen's comments at the FOMC Press Conference, finishing the week few points above 1.2230 level. 1.2350 area, that offered some amount of support lately, was broken and we believe that euro will continue its downtrend. However, next week will mostly be marked with holiday season trading so we cannot expect any larger movements, though holiday trading can sometimes bring surprised.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419