EURUSD Forecast December 17, 2015, Technical Analysis
The EURUSD pair had a fairly quiet session during the day on Wednesday, even though we had an interest-rate hike in the United States.
The EURUSD pair had a fairly quiet session during the day on Wednesday, even though we had an interest-rate hike in the United States.
The EURUSD pair broke down during the day on Tuesday, forming a rather significant bearish candle at the 1.10 handle.
The EURUSD pair broke above the 1.10 level again during the day on Monday, but still hasn’t completely broken out.
The EURUSD pair rose during the course of the session on Wednesday, slamming into the 1.10 level.
The EUR/USD pair fell slightly during the course of the session on Friday, as the previous uptrend line now is offering quite a bit of resistance.
At this point in time, we believe it’s pretty much a foregone conclusion that the market is going to reach down to the 1.05 handle. However, there isn’t much in the way of room between here and there so we believe that shorting this market off of short-term time frames will be about the only way to go.
EURUSD is facing 1.0462 (Mar 13 low) support, a breakdown below this level will indicate that the long term downtrend
The EUR/USD pair went back and forth during the course of the day on Thursday, forming a fairly neutral candle.
The EURUSD pair initially gapped lower at the open on Monday, mainly as a knee-jerk reaction to the Parisian terror attacks in our opinion.
The EURUSD pair fell during the course of the session on Tuesday, as we continue to grind our way down in this market. In fact, we got below the 1.07 handle, and as a result we are clear to go down to the 1.06 handle.