Christopher Lewis
Add to Bookmarks

The EUR/USD pair did very little during the session as we went back and forth but essentially got nowhere. This market looks like it’s starting to overextended itself a little bit, but we have to admit that the recent low is higher than the previous ones. With this in mind, we feel that the 1.29 level is now the floor in this marketplace, while the 1.3150 level continues to be the ceiling. Because of this, we are not interested in buying at this point as it would simply be “chasing the trade.”

We like shorting appear on signs of weakness, so the first daily candle that looks like a selling opportunity, we will do so. Alternately, if we managed to break the lows of the neutral candle for the Thursday session, we think that would be a feasible sell signal to. Keep in mind though, this is a relatively tight consolidation area and any move that we may would be relatively short term.

Know where EUR/USD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


EUR/USD Forecast December 14, 2012, Technical Analysis

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker