Wait | 11 December 2020

11 December 2020, EUR/USD

Wait

Technical observation

Last week, the pair EUR/USD broke above a supportive level 1.1903 with a big green candle and it is still trading with an increasing bullish bias. I expect this week’s candle to close bullish, however, next week my expectation is a momentum to the lower side; this anticipated bearish movement is a retracement to the key line 1.1903. I expect a loss of it at the same line for a surge to the upper side towards the key level 1.2455 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by another correction to the supportive level 1.1903. Only bullish position look ideal for EUR.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus