We're flat | 08 January 2021

08 January 2021, EUR/USD

Technical observation

On the weekly chart above, price is trading with an increasing bullish momentum below a resistance line 1.2286, my expectation is either a clear breakout above the lien with a big green candle, or a bounce at it followed by a correction to the supportive zone 1.1830-1.1778. If you bought this pair at the zone mentioned above and is still long, I would advise you pick your profits now at the line 1.2286. In case you are flat with this pair, remain so and wait for either a clear breakout above the line 1.2286 and a correction to it to buy EUR or, a retracement to the zone 1.1830-1.1778 and a bounce within it to buy EUR.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus