Wait | 12 January 2021
12 January 2021, EUR/USD
Technical observation
Yesterday price broke below the zone 1.2182-1.2171 as I had predicted and is currently trading below it with an increasing bearish bias. I expect a correction to the just broken zone followed by a clear bounce within it for a momentum to the lower side. My advice, remain flat and wait for a correction to the zone mentioned above and a bounce within it to sell EUR with your take profit at 1.2050 and stop loss at 1.2237. In case of a clear breakout below the line 1.2050 with a big red candle, you can anticipate a further surge to the lower side towards the supportive zone marked at 1.1907-1.1893.
Trade recommendation
Wait for a correction to the zone 1.2187-1.2171 to sell EUR.
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.
