08 December 2020, EUR/USD
Technical observation
Yesterday, EUR rallied downwards and I still expect a surge to the lower side to the supportive level 1.2009.This anticipated bearish rally is a correction to the level mentioned above and I expect a bounce at it to buy this pair. My advice, remain flat temporarily and wait for the retracement to the line 1.2009 and a rejection at it to buy EUR with your take profit at 1.2252 and stop loss at 1.1881. If this take profit is triggered and price clear penetrates above it with a big green candle, you can expect a further momentum to the upper side. Bearish positions can only be recommended below the line 1.2009.
Trade recommendation
Remain neutral
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