FxGrow Daily Technical Analysis – 22nd Dec, 2015
By FxGrow Research & Analysis Team
EURUSD - consolidation will be continued in 2016
Every important macro data (which have influence on EURUSD) in this year was published. For the first time in 9 years FED raised interest rates, but this event had less meaning to EURUSD than predictable ECB. Markets received less than expected, however in policy of ECB there wasn't any changes.
Since December 4 EURUSD moves in consolidation between resistance 1.1050 and support 1.0800. It is likely that for next days until the end of this year price will be inside that consolidation. What is interesting, despite divergent policies of both central banks which should bring further declines of EURUSD, technically it has a chance of the continuation of upward movement. The falls that occured between December's top and bottom reached fibo 50% and rebounded. Nearest resistances: 1.0950, 1.0980, 1.1030, 1.1050. Nearest supports: 1.0905, 1.0870, 1.0830, 1.0800.
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