EUR/USD weekly chart, December 12, 2016

EUR/USD forecast for the week of December 12, 2016, Technical Analysis

The EUR/USD pair initially rally during the week, but you can see that we fell rather precipitously. This was mainly due to the ECB suggesting that quantitative easing wasn’t going to end in March 2017, but rather at the end of the year. With this, it was of course negative for the Euro and we ended up falling from there. We are testing the 1.05 level, and it looks as if the central bank once the currency to drop below there. Once it does, will start reaching towards the parity handle.

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