Good day forex traders.
Hope you are having a great festive season so far. It is a good time to bond with your family and loved ones.
In the previous EUR/USD forecast I noted volatility for the currency pair. With the low volume expected during the holiday season, we may experience further extreme situations. Therefore caution must be exercised at all times.
Looking at the EUR/USD chart above we note continued volatility. The currency pair is now facing bullish pressure and is approaching last week’s high. From a technical point of view, we may see the EUR/USD attempt to target 1.3300. Do be careful though as the deadline for the US fiscal cliff is approaching and hence any progress or non progress may induce further unexpected movements due to market reactions.
Trade safely and do consider staying by the sidelines if unsure.