EUR/USD, Wednesday forecast, December 18

EUR/USD, Wednesday forecast, December 18
Downtrend
An downtrend will start as soon, as the pair drops below support level 1.1130, which will be followed by moving down to support level 1.1104.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1144, which will be followed by moving up to resistance level 1.1165.

Weekly forecast, December 16 – 20
Most important news of this week
Monday: EU Manufacturing PMI (Dec), USA Manufacturing PMI (Dec), US Markit Composite PMI (Dec);
Tuesday: –
Wednesday: German Ifo Business Climate Index (Dec), EU Core CPI (YoY)(Nov), Crude Oil Inventories;
Thursday: US Existing Home Sales (Nov)
Friday: US GDP (QoQ)(Q3), US Core PCE Price Index (YoY)(Nov), US Michigan indexes.

Forecast and technical analysis
Sideways
The pair is trading along an sideways trend between support 1.1105 and resistance 1.1198.
Downtrend

An downtrend will start as soon, as the pair drops below support level 1.1005, which will be followed by moving down to support level 1.1050 and 1.1020.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1198, which will be followed by moving up to resistance level 1.1270.

Monthly forecast, December 2019 – January 2020
Sideways
The pair is trading along an sideways trend between resistance 1.1115 and support 1.0988, where now we can expecting downtrend wave (correction) to support level 1.0988.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1115, which will be followed by moving up to resistance level 1.1170.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1.0988, which will be followed by moving down to support level 1.0940 and 1.0880.