EUR/USD Price Forecast – Euro Continues To Show Lack Of Strength

The Euro has rallied a bit during the trading session on Thursday but pulled back from the 200 day EMA. This shows just how precarious the market is right now, and as we drift into the holiday season, it’s very likely that the market will probably do very little in the way of movement. Ultimately, this is a marketplace that probably reaches back towards the 1.11 handle, and then possibly even as low as the 1.10 level underneath.

EURUSD analysis Video 20.12.19

Essentially, the market is trading between the 1.10 level on the bottom and the 1.12 level on the top. The downtrend line of course comes in the play as well, so that being said it’s likely that we will continue to see a lot of back and forth, with more of a downward feel. The holidays will crush liquidity, and at this point it’s likely that we will see the market fade rallies going forward, and as a result it’s likely that the market will have a general malaise. Ultimately, this is the wrong time of year to expect a huge move, and therefore I think it’s simply going to go back and forth with more of a downward drift.

Somehow, if we were to break above the 1.12 level it’s likely that the market could go towards the 1.14 handle after that. If we were to do the opposite, meaning breaking down below the 1.10 level, then the market probably goes down to the 1.09 handle. In general, I believe that this market is probably going back and forth more than anything else going forward.

Please let us know what you think in the comments below