Trading Support and Resistance \u2013EUR/USD, GBP/USD

Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:For the remainder of the month of December, I forecast that the EUR/USD currency pair will rise in value.

I made no forecast for the month of November. I think this was a good call insofar as a forecast in favor of the bullish US Dollar trend at the beginning of the month would have been disastrous.Last week, I made no weekly forecast. This week, I again make no weekly forecast, as there were no unusually strong counter-trend price movements in the market last week.

Directional volatility in the Forex market is likely to increase over the coming week as there are several very high-impact events scheduledLast week was dominated by relative strength in the US Dollar, and relative weakness in the Japanese Yen and the Canadian Dollar.

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