EURUSD Daily Forecast Dec 20 2018

EURO dollar 65985 min 1

EURUSD: Recovers Above 1.1345 With Caution!

The EURUSD remains in a recovery mode as long as trades above 1.1345 on a daily closing basis. Resistance comes at 1.1422 level. A halt is likely, it may test 1.1370 (minor support) before attempts to break above 1.1422 (not easy). Anyway; above 1.1422 extends the corrective recovery to 1.1465, further upside, resistance comes at 1.1537 level.

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On the downside, support comes at 1.1370 ahead of 1.1345 (main). Below 1.1345 sees a fall risk to 1.1285. At this point, the EURUSD needs to clear that level, otherwise; there’s a risk to return to 1.1400 levels. However; below 1.1285 restore the downside momentum and aims 1.1215 level…

Conclusion: The EURUSD sees recovery threats above 1.1345 with caution…

Support: 1.1370, 1.1345, 1.1285, 1.1215

Resistance: 1.1422, 1.1465, 1.1537, 1.1608

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