In long-term trends, we have no interest in selling the pair. However, we expect plenty of resistance around 1.20 handle. Selling is not an option until we see decisive break below 1.15 area.
EUR/USD Weekly Forecast – 18 December – 22 December
Euro was initially pushed lower in the course of the last week, but found some amount of support around 1.1720 area and then rebounded after FOMC interest rate decision going all the way to 1.1850 handle. However, pair was offset by dovish ECB stanzas and pulled back by the end of the week in order to finish the session around 1.1750 area. As for next week, with holiday season coming and with no major data releases we expect a bit steadier session. Any type of supportive candles around 1.17 and 1.1650 area would be short-term buying signal, while resistive candles above 1.18 and 1.2850 level would be short-term selling opportunity.
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