In long-term trends, we have no interest in selling the pair, after this rebound. 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 – 25 December – 29 December
Euro formed support around 1.1730 level initially next week and then spent rest of the week in an incline going all the way to 1.19 handle where it found some amount of resistance and pulled back slightly in order to finish the week around 1.1860 area. We can expect that whole next week will be a steadier one, marked with holiday season and no major data released. Any type of supportive candles around 1.18 and 1.1750 area would be short-term buying signal, while resistive candles above 1.18 and 1.1950 level would be short-term selling opportunity.
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