EUR/USD Forecast December 9, 2016, Technical Analysis

EUR/USD daily chart, December 09, 2016

The EUR/USD pair initially tried to rally during the day on Thursday but found itself turning around due to the fact that the ECB is going to expand and links in its quantitative easing overall, and that of course is negative for the Euro. We seem all but guaranteed to test the 1.05 level below for support, and will probably now end up breaking below there and reaching towards the parity level. Rally should be selling opportunities, and I believe that this market will continue to favor the US dollar over the longer term.