20 Januari 2021, EUR/USD
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.