This week could be integral for how EUR/USD ends the year as both the FOMC and ECB will meet to discuss any changes to their current monetary policy.
While a faster tapering by the Fed is now all but expected, the ECB also appears to finally be stepping away from their dovish outlook on inflation. This FX pair has been moving lower in a bearish channel since late May, and the direction it takes to end the year will most likely depend on which central bank is more hawkish relative to the market’s expectation.
Check out the following link for a deeper insight into how EUR/USD might trade this week, as well as key levels to trade off:
There is a movement in the market now that bearish pressure may come.
The bearish pressure market could reach 1.1200.
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This could be a possibility as the pair has recently found support at that level. It will be interesting to see if it can also break below the lows around 1.18 as mentioned by our analyst in the article.
I think the bullish pressure can come from the 1.12 support by bouncing the price. This price is currently working as strong support and here the price has been volatile.
I think you could be right, 1.12 looks like a very strong support level, but the pair still needs to take out a few key areas of resistance before making significant move higher.
Check out this analysis on EUR/USD by our analyst, Joe Perry, following the interest decisions by the Fed and ECB earlier this week:
I checked but overall it seems that the market is suffering indecision. But I think it will be fixed by January.
There is one guy that handles the EUR/USD perfectly; You can find him under EURO KING in Ctrader Copy. Have a look !
The bears are strong again. Here is my view of what is to happen until the date of 24 Dec. Continuation Pattern on H4
It is possible to break what is in a ranging area. Let’s see what happens but I think EUR could be strong.
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