EUR/USD Forecast December 12, 2016, Technical Analysis

The EUR/USD pair fell slightly during the course of the session on Friday, as we continue to reach towards the 1.05 level. That’s an area that should be rather supportive though, but I think sooner or later we will breakdown below that level and reach towards the parity handle. I believe that short-term rallies continue to offer selling opportunities as US dollar will continue to strengthen against currencies around the world. The ECB extending its quantitative easing by another nine months of course is not helping the Euro, and as a result I remain bearish.