EUR USD Technical Analysis 5 January 2021
EUR USD Technical Analysis: The EUR rose 0.13% against the USD on Monday and closed at 1.2247. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2267, which is 0.16% higher from yesterday’s closed.
The pair is expected to find support at 1.2245 and a fall through could take it to the next support level of 1.2215. The pair is expected to find its first resistance at 1.2295, and a rise through could take it to the next resistance level of 1.2307. Today’s expected trading range is between 1.2177 support and 1.2307 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2245
Support 2: 1.2215
Support 3: 1.2177
Important Important resistance levels:
Resistance 1: 1.2295
Resistance 2: 1.2307
Resistance 3: 1.2350
EUR/USD buying opportunity for intraday trading on January 5, 2021
Buy near the support zones 1.2245 and 1.2215 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 January 5, 2021
Sell near the resistance zones 1.2295 and 1.2307 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: IPPI m/m (CAD), ISM Manufacturing PMI (USD).