EUR/USD Forecast December 26, 2016, Technical Analysis

The EUR/USD pair rallied a bit during the session on Friday, as we continue to test significant resistance above. The 1.05 level above is massively resistive, so I think that given enough time the sellers will return. This was somewhat suggested on Thursday due to the exhaustive candle, so at this point I’m willing to sell this market on signs of failure near that level. Given enough time, the market should then go down to the 1.0350 level, and then possibly even lower than that. I have no interest in buying the EUR now.

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