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We're flat

We're flat | 19 Enero 2021

19 Enero 2021, EUR/USD

Technical observation

EUR declined up to the level 1.2054 and could not break below it. It is currently trading with an increasing bullish bias and I expect his upwards movement to continue to the zone 1.2171-1.2160 followed by a rejection within it for a momentum to the lower side. My advice, remain flat and wait for a correction to the zone 1.2171-1.2160 and a bounce within it to sell EUR with your take profit at 1.2054. In case there is a clear break below the line 1.2054 with a big red candle, I expect this pair to plummet further to the lower side. The key levels to look for include 1.2054, 1.1898, 1.1757 and the lower level 1.1616.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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