EUR USD Euro Dollar Forecast on December 23, 2016


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Currency pair EUR USD continues to move in the descending channel and bearish trend, but the potential for the development of correction is stored. Is expected to start growing in the correction can be expected only from the breakdown of 1.0520 area. We continue to hold the sale of euro dollar with a close stop. Currently the pair is testing the upper channel close the border and have the potential to rebound and start to decline below 1.02. As the decline we are ready to increase the volume of sales with a decrease in EUR / USD quotes.

EUR USD Euro Dollar Forecast on December 23, 2016

EUR USD Euro Dollar Forecast on December 23, 2016

Among the important factors that may affect the course of the Euro dollar tomorrow, December 23, 2016, stands out, sales of housing in the primary market, as well as the consumer sentiment index from the University of Michigan, is expected a slight increase in the indicator at the level of 98.0 to a level of 98.2, which may to support the US dollar.

EUR USD Euro Dollar Forecast on December 23, 2016 involves an attempt to continue falling in the framework of the descending pattern with the potential to reduce the level below 1.02 area, the cancellation option will break-down area 1.0520, which could trigger the development of a strong bullish correction the pair.

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