Remain long | 28 Desember 2020

28 Desember 2020, EUR/USD

Remain long

Technical observation

Last week EUR went down but did not break below the zone 1.2148-1.2108, it bounced within it and is currently trading with an increasing bullish momentum. I expect this upwards movement to continue to the resistance line 1.2804 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by a retracement to the supportive zone mentioned above. If you bought EUR within the zone 1.2148-1.2108after a bounce, remain long with your take profit at 1.2804 and stop loss at 1.1953. On the weekly chart above, only bullish positions look ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 1.2804.

Imelda Maseno
Analyst of «FreshForex» company
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