04 December 2020, EUR/USD
Technical observation
EUR has been rising steadily since it penetrated above the key line 1.2009 with a big green candle. My expectation is a correction to the same line followed by a bounce at it for a possible surge to the upper side towards the resistance line 1.2252 then followed by either; a clear breakout above 1.2252 with a big green candle, or a bounce at it followed by a retracement to the key line 1.2009. My advice remain flat and wait for correction to the line 1.2009 and a rejection at it to buy EUR with your take profit at 1.2252 and stop loss at 1.1884. Only bullish positions look ideal and can be recommended for the pair above.
Trade recommendation
Remain flat.
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