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Remain long

Remain long | 24 December 2020

24 December 2020, EUR/USD

Remain long

Technical observation

On the daily chart above, price is trading with an increasing bullish momentum. I expect this upwards movement to continue to the resistance line 1.2405 followed by a clear breakout above it with a big green candle. If you bought this pair at the line 1.2076 after a bounce, remain long with your take profit at 1.2405 and stop loss at 1.1924. Should there be a clear breakout below the supportive level 1.2076 with a big red candle, wait for a retracement to it and a bounce confirming a possible surge to the lower side before you pick short positions with your take profit at the supportive level 1.1716.

Trade recommendation

Remain long with your take profit at 1.2405.

Imelda Maseno
Analyst of «FreshForex» company
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