We're flat | 23 December 2020

Technical observation

EUR is trading with an increasing bearish momentum above a key line 1.2076. I expect this bearish rally to continue to the supportive level 1.2076 followed by a bounce at it for a momentum to the upper side. My advice, remain flat and wait for a correction to the line 1.2465 and a bounce at it to buy EUR with your take profit at 1.2465 and stop loss at 1.1921. In case of a clear breakout above the line 1.2465 with a big green candle, wait for a correction to the just broken line and a bounce at it before you continue long with this pair. Only bullish positions look idea and can be recommended for EUR.

Trade recommendation

Remain flat.