Wait | 03 December 2020
03 December 2020, EUR/USD
Technical observation
The pair on the chart above is still trading with an increasing bullish momentum above the level 1.2009 it recently penetrated. I expect a retracement to the same line followed by a bounce at it to buy EUR towards the key level 1.2252. In case there is a break above the line 1.2252 with a big green candle, wait for a pullback to it confirming further bullish movements of price before you continue long with this pair. Right now, as it is on the chart above, you can only anticipate bearish movements of this pair should price break below the line 1.2009 with a big red candle and is contained below it after a retracement.
Trade recommendation
Wait for pullback to 1.2009 to buy EUR.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
