Good day forex traders and readers.

It is mid week and I hope you are having a great week trading the EUR/USD. Making money in forex is possible but only if you do it the right way.

In the previous EUR/USD forecast we noted bullish pressure and an extended target of 1.38. From a fundamental point of view the markets were generally pleased that the European Central Bank did not implement new easing measures.

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair continued on it’s bullish momentum. It is rather consistent and hence I hope you took advantage of it 🙂

A word of caution is the extended bullish target and major resistance region of 1.38. As you can observe, the currency pair eases off in that region, cementing the fact of it’s influence in the markets. Pay close attention for further clues.

Fundamental Analysis

The fundamental situation remains similar. There were no adverse releases so far to tip the balance significantly. Hence we are still looking at the markets taking a preference towards riskier assets.

Continue to monitor the economic releases. As we move into the holiday season, low volume conditions may come into play.

Trade safely.

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EUR/USD Forecast December 11

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