EUR/USD Price Outlook

Discussion in 'Forex' started by MrKJoe, Dec 11, 2019.

  1. MrKJoe


    EUR/USD Price Outlook:
    • Begins an event-packed week with a negative tone but still in the green territory.
    • This may be the last week in terms of high volatility for the Forex sphere.
    EUR/USD Price: Lingers inside a rangebound ahead of an event-packed week
    The common currency begins a full event-packed week within a negative tone. However, it remains in the positive territory on a monthly basis. The resistance level of 1.1102 is still acting as a strong barrier to the upside and assists in limiting the move across the board, together with the 200 SMA at the 4H chart.

    The EUR/USD pair also found critical support around 1.1014, where a demand zone has been established.

    Among the events, the ECB and UK elections are looming in the economic calendar that could strongly affect the FX sphere ahead of New Year’s Eve.