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.
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