We're bullish towards 1.2299 | 25 Januari 2021

25 Januari 2021, EUR/USD

We're bullish towards 1.2299

Technical observation

The pair on the chart above rose and broke above a zone 1.2171-1.2160; it then retraced to the zone but could not break below it. Right now EUR is trading with an increasing bullish bias within the zone mentioned above and I expect it to rally upwards to the resistance line 1.2299. My advice, if you bought this pair within the zone 1.2171-1.2160 after a bounce, remain long with your take profit at 1.2299 and stop loss at 1.2114. On the chart above, as long as price is contained above the zone 1.2171-1.2160, I can only anticipate a surge to the upper side. I can only recommend Bearish positions below 1.2171-1.2160.

Trade recommendation

Remain long with your take profit at 1.2299.

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Imelda Maseno
Analyst of «FreshForex» company
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