EUR/USD Forecast December 11

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By ltan | December 11, 2013 1:21 PM EST

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Good day forex traders and readers.

In the previous EUR/USD forecast we noted bullish pressure and an extended target of 1.38. From a fundamental point of view the markets were generally pleased that the European Central Bank did not implement new easing measures.

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair continued on it’s bullish momentum. It is rather consistent and hence I hope you took advantage of it

A word of caution is the extended bullish target and major resistance region of 1.38. As you can observe, the currency pair eases off in that region, cementing the fact of it’s influence in the markets. Pay close attention for further clues.

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