EUR/USD, Wednesday forecast, December 18
Downtrend
A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1130, which will be followed by moving down to support level 1.1104.
Uptrend
An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1144, which will be followed by moving up to resistance level 1.1165.
(Click on image to enlarge)
Weekly forecast, December 16 - 20
Most important news of this week:
- Monday: EU Manufacturing PMI (Dec), USA Manufacturing PMI (Dec), US Markit Composite PMI (Dec);
- Tuesday: -
- Wednesday: German Ifo Business Climate Index (Dec), EU Core CPI (YoY)(Nov), Crude Oil Inventories;
- Thursday: US Existing Home Sales (Nov)
- Friday: US GDP (QoQ)(Q3), US Core PCE Price Index (YoY)(Nov), US Michigan indexes.
Forecast and technical analysis
Sideways
The EUR/USD pair is trading along with a sideways trend between support 1.1105 and resistance 1.1198.
Downtrend
A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1005, which will be followed by moving down to support level 1.1050 and 1.1020.
Uptrend
An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1198, which will be followed by moving up to resistance level 1.1270.
(Click on image to enlarge)
Monthly forecast, December 2019 - January 2020
Sideways
The EUR/USD pair is trading along with a sideways trend between resistance 1.1115 and support 1.0988, where now we can expecting downtrend wave (correction) to support level 1.0988.
Uptrend
An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1115, which will be followed by moving up to resistance level 1.1170.
Downtrend
A downtrend will start as soon, as the EUR/USD pair drops below support level 1.0988, which will be followed by moving down to support level 1.0940 and 1.0880.
(Click on image to enlarge)
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