EURUSD Daily Forecast Dec 29 2015

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Outlook in EURUSD remains neutral at the moment, the pair stays in a recovery mode as long as trades above the 1.0824 levels on a daily closing basis…

On the upside, immediate resistance comes at the 1.0980 levels, a break will extend recovery towards the 1.1095 levels, a halt is likely and a reversal may occur, however, further upside will bring strong bullish move towards the 1.1350 levels…

On the downside, a failure to take out the 1.0980 levels could mean a return to the 1.0912 levels, a cut would open 1.0856 levels, further down, support comes at the 1.0824 levels.

Conclusion: The EURUSD continues to face recovery threats above the 1.0824 levels…

On the 4-hour timeframe, the pair is bullish and further upside couldn’t be ruled out, support comes at the 1.0962 levels ahead of the 1.0905 levels…

On weekly timeframe: As long as 1.0565 support holds on a¬†weekly closing basis, the pair remains in a recovery mode and further upside towards the 1.1095/1.1350 levels couldn’t be ruled out.Only below 1.0565 levels will restore the downside momentum, otherwise; any decline is an opportunity to buy the pair on dips!

 

EURUSD Daily Forecast Dec 29 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS