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We're flat

We're flat | 20 tháng Giêng 2021

20 tháng Giêng 2021, EUR/USD

We're flat

Technical observation

On the chart above, price has been rising steadily towards the resistance zone it established around 1.2171-1.2160; I expect a loss of this bearish movement within the zine for a rally to the lower side. My advice, remain flat and wait for a retracement to the zone mentioned above and a rejection within it to sell EUR with your take profit at 1.2054 and stop loss at 1.2219. On your way downwards the key levels to look for include; 1.1898, 1.1757 and the lower supportive level 1.1616. In case of a clear breakout above the zone 1.2171-1.2160 with a big green candle, you can anticipate a rally to the upper side.

Trade recommendation

Remain neutral.

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Imelda Maseno
Analyst of «FreshForex» company
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