EUR/USD Forecast December 21, 2016, Technical Analysis

EUR/USD daily chart, December 21, 2016

The EUR/USD pair fell on Tuesday, making a fresh, new low. In fact, this was a 14 year low in this pair, so it’s obvious that the Euro is absolutely broken. Currently, I believe that the rallies that occur will continue to be selling opportunities, as we should reach towards parity. I think that the 1.05 level above is essentially the “ceiling” in this market, so it’s not until we break well above there that I would even remotely consider going long. This is a market that I believe reaches towards parity sometime early next year, but volatility could be drying up due to the holidays.

Written by FX Empire