EUR/USD: forecast for Dec. 11-15

EUR/USD fell last week to 3-week low of 1.1730, although the European economic data were generally good. This decline may be partly explained by the US dollar’s increase and partly by political problems in Germany and the ECB’s policy.

The meeting of the European Central Bank on Thursday is expected to be relatively quiet as policy changes are unlikely. Still, the ECB will release updated estimates for economic growth and inflation. These figures will include the first projections for 2020 – this should give the market long-term perspective. In addition, traders should listen carefully to what language the ECB president Mario Draghi uses during the press conference. Dovish comments will weight on the euro, while any less dovish statements will lift the single currency. The first scenario looks more likely. Other data releases from the euro area this week include German ZEW economic sentiment in Tuesday and the regions flash manufacturing & services PMIs on Thursday.

Decline below 1.1700 will bring EUR/USD to the big support at 1.1615 (200-day MA) and 1.1580. Here sellers will likely close positions and the decline will stop. On the upside resistance is at 1.1815 and 1.1860 ahead of 1.1930. If the euro somehow manages to go this far, we expect sellers to appear and make the advance halt.  


Jackson Hole, Gold, and Powell | Market News
Jackson Hole, Gold, and Powell | Market News

The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera