EUR/USD Weekly Forecast 4 Dec 17 1



Good day forex traders.

Welcome to our weekly review of the EUR/USD currency pair. It is the last month of the year and guess what .. drum rolls … 2018 will be our tenth year !!! Time flies .. we should be old koalas now.  But still .. the pip harvest continues.

;P


In the previous review we spoke of the EUR/USD’s bullish recovery attempt on 1.2. There might be resistance due to the upper bollinger band being in the vicinity.

Looking at the EUR/USD weekly chart above, true enough we note that the attempt at 1.2 was not successful.

We are not ruling out of a renewed push to establish the price at 1.2. In recent times, the economic outlook of the Euro Zone is improving and this in turn fuels the positive sentiment towards the region.  As the European Union continues to reclaim economic robustness, the European Central Bank is likely to dial back on the quantitative easing measures. With the reduction of the supply of cheap funding, the Euro currency value will possibly be driven up.

Next week brings a number of economic releases. The US Non-Farm Payroll is one of which. Being a measure of employment, it has much potential to drive price action. This is not a surprise as economies are driven by spending. Employment provides earnings which then translates to spending. Proper money management will be of upmost importance.

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