EUR/USD Forecast December 30

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By ltan | December 30, 2013 2:21 AM EST

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Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the currency pair failed to conquer the resistance of 1.38. With the European Union receiving a downgrade from S&P , close monitoring was advised so as the effect of which and also of the tapering of quantitative easing could be determined.

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair was bullish for the week although I would not be so eager to jump on the train. As evident with the spikes, especially on the last trading day of the week, low volume and liquidity conditions persist.

I have plotted possible support and resistance levels on the chart above. Possible supports are 1.36 and 1.3680. The strong resistance of 1.38 lies above.

Don’t miss the fundamental analysis

continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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