Forex Guides

EUR/USD Forecast 11 Dec 14

Good day forex traders and readers.

We are past the mid week mark and I hope your forex trading is good so far. Remember slow and steady wins the race 🙂

In the previous EUR/USD forecast we noted that the currency pair was bearish for the week. I cautioned that 1.22 might offer significant support and hence it was prudent to observe the price action in this region. Any bullish correct would no doubt target 1.24.


Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair did indeed corrected and took out the bullish target of 1.24.

It is currently impossible to tell if this is an end to the bearish momentum but do understand such reversals are common and may just be noises in the bigger scheme of things.

1.24 is now the immediate support and the current price level near 1.248 is an immediate resistance too.

Fundamental Analysis

Nothing has changed fundamentally for now and hence from a fundamental point of view the current price action is merely a temporary correction. The U.S. Dollar remains to be poised for an interest rate hike while the euro faces possible quantitative easing.

For readers who are willing to take a risky trade, current level seems like a possible position for a shot at selling the EUR/USD. Having said so as nothing in forex is 100% , be mindful of an actual change in trend and have proper money management.

We Need Your Support!

As you know, I do not have any budget and I have never charged you for all the work. I need your support to get the word out on the website so that more people will visit and I can continue writing for you. Please share the website in facebook, forums, websites and communities. Thank you.

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EURUSD Weekly ForecastEUR/USD Forecast 11 Dec 14
  • EURUSD daily chartEUR/USD Forecast 11 Dec 14
  • EUR/USD Forecast 11 Dec 14
  • eur usd daily analysisEUR/USD Forecast 11 Dec 14
  • EUR/USD Forecast 11 Dec 14
  • EUR/USD Forecast 11 Dec 14