FxGrow Daily Technical Analysis – 15th Dec, 2015
By FxGrow Research & Analysis Team
EURUSD - the highest since 1,5 months
EURUSD continues it's upward movement. In last few days there was a shallow correction and today price break above last few days highs. Since October 30 EURUSD wasn't so high (1.1058 level was tested). Currently price keeping up above 1.1000 level. Next target for bulls is 1.1120 level there are resistance and 61,8 Fibonacci level of last downward movement. There will be a huge volatility during tomorrows FOMC meeting. First will be FOMC decision about rate hikes and second a press conference of Janet Yellen (FED's chief).
It is likely that first reaction on EURUSD will be different than the right one that appears later. It is worth to follow the event on Wednesday evening, and certainly you shouldn't leave at that moment open position "without a care". Nearest supports if descents will back: 1.0990, 1.0930, 1.0860, 1.0810, 1.0685, 1.0630.
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.