EUR USD Technical Analysis 3 December 2020
EUR USD Technical Analysis: The EUR rose 0.37% against the USD on Wednesday and closed at 1.2113. Today in the Asian session, while EUR USD technical Analysis 3 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2127, which is 0.11% higher from yesterday’s closed.
The pair is expected to find support at 1.2080 and a fall through could take it to the next support level of 1.2060. The pair is expected to find its first resistance at 1.2140, and a rise through could take it to the next resistance level of 1.2170. Today’s expected trading range is between 1.2040 support and 1.2200 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2080
Support 2: 1.2060
Support 3: 1.2040
Important Important resistance levels:
Resistance 1: 1.2140
Resistance 2: 1.2170
Resistance 3: 1.2200
EUR/USD buying opportunity for intraday trading on December 3, 2020
Buy near the support zones 1.2080 and 1.2040 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
EUR/USD selling opportunity for intraday trading on December 3, 2020
Sell near the resistance zones 1.2140 and 1.2170 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Economic events to watch for the next 24 hours: Retail Sales m/m (EUR), Initial Jobless Claims (USD), Markit Services PMI (USD), ISM Non-Manufacturing PMI (USD).