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We're flat

We're flat | 23 December 2020

23 December 2020, EUR/USD

Technical observation

EUR is trading with an increasing bearish momentum above a key line 1.2076. I expect this bearish rally to continue to the supportive level 1.2076 followed by a bounce at it for a momentum to the upper side. My advice, remain flat and wait for a correction to the line 1.2465 and a bounce at it to buy EUR with your take profit at 1.2465 and stop loss at 1.1921. In case of a clear breakout above the line 1.2465 with a big green candle, wait for a correction to the just broken line and a bounce at it before you continue long with this pair. Only bullish positions look idea and can be recommended for EUR.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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