EUR USD Technical Analysis 31 December 2020
EUR USD Technical Analysis: The EUR rose 0.40% against the USD on Wednesday and closed at 1.2296. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2291, which is 0.03% lower from yesterday’s closed.
The pair is expected to find support at 1.2255 and a fall through could take it to the next support level of 1.2220. The pair is expected to find its first resistance at 1.2307, and a rise through could take it to the next resistance level of 1.2320. Today’s expected trading range is between 1.2220 support and 1.2350 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2255
Support 2: 1.2220
Support 3: 1.2177
Important Important resistance levels:
Resistance 1: 1.2307
Resistance 2: 1.2320
Resistance 3: 1.2350
EUR/USD buying opportunity for intraday trading on December 31, 2020
Buy near the support zones 1.2255 and 1.2220 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 31, 2020
Sell near the resistance zones 1.2307 and 1.2320 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: Initial Jobless Claims (USD).