EUR/USD: Forecast for December 18
Forex Watchers | Dec 17, 2014 11:47PM ET
Good morning. Hope all is well. We seem to have had a bit of a turmoil with our forecast for yesterday with only 3 out of the 7 pairs behaving as predicted. This was mainly due to US Dollar strengthening instead of weakening as we had thought. The Oceanic pairs and the Japanese Yen pair were the only one’s that behaved as predicted. Also we had many news items coming out that made the market very volatile. For today we do have some news items coming out that could affect EUR, US Dollar, GBP and JPY. We could be in for a weak US Dollar, specially after the rally we had yesterday. Japanese Yen is proving a bit hard to read. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EUR/USD to proceed Short below the barrier levels of 1.24600 and 1.23924.
Fundamental Watch
– German Ifo Business Climate
– Retail Sales m/m
– Unemployment Claims
– Philly Fed Manufacturing Index
– Monetary Policy Statement
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