EUR/USD Weekly Forecast – 12 December – 16 December

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Saturday, Dec 10 2016

EUR/USD Weekly Forecast – 12 December – 16 December

Euro initially pulled back in the course of the last week, going all the way to 1.05 handle, but then rebounded and went all the way above 1.08 handle ahead of ECB, but after dovish ECB stanzas pair pulled back finishing the session around 1.0550 handle. As for next week focus will be on FOM rate decision. Pair is likely to find some amount of support around 1.05 and 1.0450 handle in extension and resistance above 1.0650 and 1.07 area.

Long-term looking we have no interest in buying this pair, but selling is also not an option at least not until we see decisive break below 1.05 handle which is for now major support at the moment.

More in this category: « GBP/USD Weekly Forecast – 12 December – 16 December AUD/USD Weekly Forecast – 19 December – 23 December »

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