18 Diciembre 2020, EUR/USD
Technical observation
On the chart above, price rose up to a resistance line 1.2271 and is currently trading with an increasing bearish momentum below it. I expect this bearish movement to continue to the supportive level 1.2076 followed by a bounce at it to buy this pair. My advice, wait for correction to the line 1.2076 and a rejection at it to buy EUR with your take profit at 1.2217 and stop loss at 1.1925. In case there is a clear penetration above the line 1.2217 with a big green candle, wait for a retracement to it and a bounce confirming a further surge to the upper side before you continue long with EUR.
Trade recommendation
Wait for a retracement to 1.2076 to buy EUR.
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