Forecast for the EUR/USD pair for the week ahead (12/20/2019)

Forecast for the EUR/USD pair for the week ahead (12/20/2019)

What to expect from the euro/dollar pair in the coming week starting December 20, 2019? Let's consider an example on the daily chart and judging by the technical analysis, the pair is going to go up.

Chart D1 on EUR/USD

Now the price is in a corrective wave of a downward three-wave cycle and it looks like it has not ended yet. Although the price has already bounced off the level of 61.8, and this is the golden ratio of fibonacci, but in general, the price may go further - to the next level of 80.9

The chart shows an approximate price range that the price may reach in the next week or two.

Also worth considering this forecast for USD/RUB, where it is expected on the daily chart - first a rise, and then a fall, and since the dollar is in second place in the EUR / USD pair, the opposite can happen for the euro pair. Euro / Dollar is waiting for a short-term fall at the beginning (this can be observed on an hour) and then up.

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