We're flat | 31 December 2020
31 December 2020, EUR/USD
Technical observation
On the weekly chart above, price is trading with an increasing bullish momentum below a resistance line 1.2286; I expect either a clear breakout above the line with a big green candle, or a bounce at it followed by a retracement to the supportive level 1.1852. My advice, if you bought this pair at the line 1.1852 after a bounce, pick your profits now at 1.2285. Should there be a clear penetration above the line 1.2286 with a big green candle, wait for a pullback to it and a bounce before you buy EUR towards the level 1.2876, however, if price is rejected at 1.2286 wait for a correction to the line 1.1852 to buy EUR.
Trade recommendation
Remain flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
