RobertPapon

Analysis and Forecast EUR / USD - Weekly review (12.12-16.12)

FX:EURUSD   Euro / U.S. Dollar
Last week was the end of the correction from 1.0504, which reached just above an important resistance zone , located on levels 1,0847-64. Accordingly, the maximum target correction was completed and returned to the market declines. Ahead of the Federal Reserve meeting, which again may lead to greater volatility . However, in the longer term still applies downward trend.

The first trading hours should elapse under the dictation of the demand side, which will be willing to lead to a correction decline from the level of 1.0873. Increases should be limited in nature and should not exceed the levels 1,0600-31. Perhaps here we can see a trend side pending the meeting of the Federal Reserve . Then, after the expected correction we should go back in the direction of the last holes 1,0504-31, which break open the way toward last year's lows 1.0490 and 1,0456-60. Signal to the stronger downward movement, may be the information contained in the minutes of the FOMC.

Note: if the market will be strongly disappointed with the result of the meeting of the Federal Reserve , once again we see strong growth and perhaps a return to recent highs.
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