19 Januari 2021, EUR/USD
Technical observation
EUR declined up to the level 1.2054 and could not break below it. It is currently trading with an increasing bullish bias and I expect his upwards movement to continue to the zone 1.2171-1.2160 followed by a rejection within it for a momentum to the lower side. My advice, remain flat and wait for a correction to the zone 1.2171-1.2160 and a bounce within it to sell EUR with your take profit at 1.2054. In case there is a clear break below the line 1.2054 with a big red candle, I expect this pair to plummet further to the lower side. The key levels to look for include 1.2054, 1.1898, 1.1757 and the lower level 1.1616.
Trade recommendation
Remain flat.