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EUR/USD Forecast December 13, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Dec 13, 2016, 09:45 UTC

The EUR/USD pair rallied on Monday, as we continue to find the 1.05 level supportive. However, I think it’s only a matter time before the exhaustion comes

EUR/USD daily chart, December 13, 2016

The EUR/USD pair rallied on Monday, as we continue to find the 1.05 level supportive. However, I think it’s only a matter time before the exhaustion comes back into play, and we can start selling yet again. I think that eventually will break down below the 1.05 handle, but it’s obviously a very stubborn area at the moment. Once we do break down below there, I expect to reach parity fairly quickly. I think that the 1.0750 level above will continue to offer massive resistance. With this, I remain bearish but I am picking my spot.

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About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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