FOREX EUR USD: To be anchored by 20-day SMA. 18 Decembre 2015.


Pair's Outlook
As expected, the EUR/USD cross managed to successfully test 20-day SMA and weekly S1 at 1.0850/45 yesterday. After touching the July low at 1.0808 the pair decided to bounce back and close the session at 1.0824. As daily technical indicators are giving stronger bullish signals, it is possible that some kind of a revival will take place on Friday. A climb back above the 20-day SMA will support the bulls to push EUR/USD up to 55-day SMA (1.0944) in the mid-term, while the bears are still hoping to see a sell-off continuing in the direction of the monthly pivot at 1.0724.


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