EURUSD Daily Forecast Dec 19 2018

EURO - dollar - 65985-

EURUSD: Consolidates Around 1.1370 Level Ahead Of FOMC

As long as 1.1370 resistance holds on a daily closing basis. The EURUSD remains neutral with risk to break lower. Immediate support comes at 1.1345 level. A sustained breakout – daily closing – below that level opens 1.1285. A cut below here restores the downside momentum and aims 1.1215, further down, support comes at 1.1155 level.

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On the upside, resistance comes at 1.1370 level. A break will open 1.1422. it may test 1.1370 before attempts to move higher. Anyway; above 1.1422 aims 1.1465 level, next resistance comes at 1.1537 level.

Conclusion: The EURUSD sees downside risk below 1.1370 level in the short-term outlook.

Support: 1.1345, 1.1285, 1.1215, 1.1155, 1.1080

Resistance: 1.1370, 1.1422, 1.1465, 1.1537, 1.1608

EURUSD Daily Forecast Dec 19 2018Key data/events which may affect EURUSD today:

  • Federal Reserve Rate Decision & Press Conference.

The Federal Reserve will announce its federal funds’ rate and publish updated economic projections at its last policy meeting of the year today at 19:00 GMT.

The Federal Reserve is expected to raise interest rates by a quarter point for a fourth time this year (in a range between 2.25%-2.5%) at the conclusion of its two-day policy meeting.

Fed Chair Jerome Powell will hold what will be a closely-watched press conference 30 minutes after the release of the Fed’s statement, as investors look for fresh clues on inflation and the forecast for the coming year.