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Euro dollar EUR / USD forecast for tomorrow 12/29/2020, analytics and trading signals

Forecast for the dollar (EUR / USD) for tomorrow, December 29, 2020. At the time of writing the forecast for the euro dollar for tomorrow, the quotes of the currency pair are at the level of 1.2220.

The movement of the euro is multidirectional, the price is in a narrowing triangle with a gradually damping amplitude. However, if we look at the location of the Eurodollar price in relation to the Ichimoku cloud, we see that it is higher than the cloud. Which suggests that the short-term trend for the euro-dollar is still upward.

The support level is the upper border of the Ichimoku Kinko Hyo cloud at the level of 1.2200. The resistance level is 1.2250. This is the top border of the tapering triangle.

Euro dollar EUR / USD forecast for tomorrow

The EUR-USD forecast for 12/29/2020 assumes an upward movement in order to test the resistance level of 1.2250. If the EUR / USD price fixes above this level, the next target for the trend is 1.2300.

If the Ichimoku cloud breaks down, the next support level will be 1.2160.

Thus, the forecast for the euro dollar for December 29 assumes a short-term upward movement in order to test the resistance level of 1.2250.

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