EUR/USD Forecast December 22, 2016, Technical Analysis

EUR/USD daily chart, December 22, 2016

The EUR/USD pair rallied on Tuesday, trying to reach the 1.05 level. That’s an area that is massively resistive though, as it was massively supportive in the past. Because of this, I’m looking to short-term charts that show signs of exhaustion so I can continue to sell the Euro overall. I think we will reach towards the parity level, although that will probably be sometime early next year. I got no interest in buying this pair, because even if we broke above the 1.05 level, I recognize there is a lot of noise above that could cause resistance.

Written by FX Empire