The euro lost 10% over the past year while it declined by 12% in 2014. In December, the pair returned a part of the losses due to the November two key Central Banks careful actions - the ECB refrained from a large-scale stimulus, the Fed raised its rate by 0.25%. The fact that the US regulator began the monetary policy normalization while the rest of the world central banks including the ECB continue their soft policy. This factor is likely to continue to provide support to the greenback in the coming year.
The first support lies at 1.0800 and then at 1.0730. The first resistance stands at 1.0925, the next one is at 1.1050.
There is a confirmed and a strong sell signal. The price is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement forming a “Dead Cross”. The downward movement will be until the price is below the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The downward movement will be continued. The pair may go to 1.0800 and 1.0730 soon.