EURUSD Forecast December 15, 2015, Technical Analysis
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 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 EURUSD pair rallied during the day on Tuesday, bouncing above the 1.06 handle.
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 significantly during the course of the session on Tuesday, but there is an uptrend line just below that should continue to keep this market somewhat supported.
The EURUSD pair initially tried to rally during the course of the day on Friday but turned back around as we face a significant amount of pressure at the 1.11 handle.
EURUSD had been trading inside an ascending triangle chart pattern since the start of the year, as price formed higher lows and found resistance near the 1.1500 major psychological level.