EUR/USD Forecast December 16, 2014, Technical Analysis

The EUR/USD pair went back and forth during the course of the session on Monday, but ended up forming a relatively benign and neutral candle. Because of this, it feels as if the market should continue to struggle just below the 1.25 handle, and as a result we are not interested in buying. We believe that a break below the range for the session on Monday is probably reason enough to start selling again, but recognize that it will be choppy and a bit noisy on the way down. Certainly this point in time though, we are in a downtrend.

 

EUR/USD Forecast December 16, 2014, Technical Analysis