EUR/USD Forecast December 17, 2014, Technical Analysis

EUR/USD pair broke higher during the course of the session on Tuesday, but ran into quite a bit of resistance just above the 1.25 handle. That being the case, we ended up forming a massive shooting star, and as a result we feel that the EUR/USD pair will continue to selloff in this general vicinity. A break below the bottom of a hammer, we are sellers and we believe that the market should then head to the 1.2250 level given enough time. We have no interest whatsoever in buying this pair, because we see so much in the way of resistance above.

 

EUR/USD Forecast December 17, 2014, Technical Analysis