10 December 2020, EUR/USD
Technical observation
On the daily chart above, price is retracing to a supportive zone it established around 1.1962-1.1937, I expect a bounce within the same zone for a momentum of price to the upper side towards the key level 1.2234, followed by a clear breakout above it for a further surge to the upper side. My advice, remain flat temporarily and wait for the pullback to the zone 1.1962-1.1937 and a bounce within it to buy EUR with your take profit at 1.2234 and stop loss at 1.1798. In case of a break above the line 1.2234, you can expect the value of this pair to plummet further upwards towards the key line 1.2525.
Trade recommendation
Remain neutral.
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