EUR/USD Forecast December 15, 2016, Technical Analysis

EUR/USD daily chart, December 15, 2016

The EUR/USD pair had a slightly positive Wednesday, as we continue to bounce around and show signs of consolidation. I believe that there is a significant amount of resistance near the 1.0750 level above, so if we reach towards that area I would be more than willing to sell an exhaustive candle. I think that we must attempt a breakdown below the 1.05 level several times before we breakdown, but once we do this market should then go to the parity level. I have no interest in buying the EUR currently, as the ECB has just extended quantitative easing by nine months.

Written by FX Empire