EURUSD Daily Forecast Dec 21 2018

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EURO - dollar - 65985-

EURUSD: Bullish But Around Critical Level…

The EURUSD maintained a strong bullish momentum yesterday, topped at 1.1485 and bottomed at 1.1369 level. Now, the focus will turn to 1.1485 levels. The EURUSD will have to break and hold above 1.1485 level on a daily closing basis to push the market for further upside gains. If seen it will target 1.1537 level. A halt is likely, it may test 1.1485 before attempts to break higher. Above 1.1537 aims 1.1620 level, further upside, resistance comes at 1.1700 level…

Stability below 1.1465 levels on a daily closing basis could mean a return to 1.1215 levels. Above 1.1465 should target 1.1620/1.1700 range at least. ( medium-term forecast)…

Alternatively; a failure to hold above 1.1485 levels on a daily closing basis could mean a return to 1.1369 level. It should turn higher from here but if this fails to happen next support comes at 1.1346 level. Below that level will challenge1.1285 levels.

Conclusion: The EURUSD sees upside threats above 1.1346 levels in the short-term forecast…

Support: 1.1400, 1.1370, 1.1346, 1.1285, 1.1215

Resistance: 1.1465, 1.1485, 1.1537, 1.1620, 1.1700

Recommended Reading:

EURUSD Daily Forecast Dec 14 2018

GBPUSD Daily Forecast Dec 14 2018

GBPUSD Daily Forecast Dec 20 2018

Notes:

  1. A daily closing above 1.1465 ” static resistance ” will expose 1.1485 levels. According to the daily chart, stability below 1.1465 levels on a daily closing basis could mean a return to 1.1215 levels ( medium-term forecast)…
  2. On the 4 hours chart; the pair has lost its upside steam, faces pullback threats below 1.1485, critical support comes at 1.1400 level.
  3. On the 1 hour chart, the pair formed a double top pattern, neckline comes at 1.1400 level…below that level aims 1.1370/1.1346 levels…

EURUSD Daily Forecast Dec 21 2018

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