We're flat | 10 Desember 2020

10 Desember 2020, EUR/USD

We're flat

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.

Imelda Maseno
Analyst of «FreshForex» company
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