Sell EUR/USD is the safest route to go

Exclusive EUR/USD Analysis 19.12.2016

Trading slowly enters in a holiday season mode so we might see some illiquid volume. In spite of inflation moving higher and some improvements in the EU zone economy in Q3, the pair is still being sold on rallies so that is the safest route to go. Zig zags are easy to spot as the pair goes with easy to spot lower high, lower low pattern. POC zone (50.0, H3, bearish order block, X cross ™) comes within 1.0505-20 and we could see a rejection within the zone towards 1.0366. Trading within the zone could be possible so we might have some end of day swings. However if 1.0360 is broken with a high momentum (marubozu) or we see a 4h candle close below 1.0360 then 1.0280 is possible.

EUR/USD Chart
EUR/USD Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets.

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.