Remain long | 14 December 2020

Technical observation

On the chart above, price is trading with an increasing bullish momentum above a supportive zone 1.2105-1.2100, I expect this upwards movement to continue to the resistance line 1.2161 followed by either a clear breakout above it with a big green candle, or bounce at it followed by another correction to the zone mentioned above. My advice, if you bought EUR within the supportive zone 1.2105-1.2100 after a bounce, remain long with your take profit at 1.2161 and stop loss at 1.2076. As it is on the chart above, I can only recommend bullish positions, you can only anticipate bearish rally below 1.2105-1.2100.

Trade recommendation

Remain long with your take profit at 1.2161.