Wait | 21 December 2020

Technical observation

EUR broke above a line 1.2088 with a big green candle and it is currently trading above the just broken line with an increasing bearish momentum. My advice, wait for a correction to the line 1.2088 and a rejection at it to buy EUR with your take profit at 1.2801 and stop loss at 1.1858. In case there is a clear breakout above the line 1.2801 with a big green candle, you can anticipate a further momentum of price to the upper resistance line 1.3566. As it is on the weekly chart above, as long as price is contained above the line 1.2088, only bullish positions look ideal and can be recommended.

Trade recommendation

Wait for a retracement to 1.2088 to buy EUR.