Credit: Shutterstock photoThe EUR/USD pair has been a slightly negative during the session on Monday, as we have dipped below the 1.20 level. Ultimately though, there is a significant amount of support just below, and I think that we will probably pop above the 1.20 level and continue to go higher. This pullback has been gradual, and healthy from what I can see. I don't have any interest in shorting this pair, I believe that we will see it go higher from here. I also anticipate that the 1.1950 level will offer a bit of support. Longer-term, I still expect to see this market going towards the 1.25 handle, but it's good to take time to get there. Remember, this is the most heavily traded currency pair in the world, so choppiness is very normal.
EUR USD Forecast Video 12.9.17
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
