EUR USD Technical Analysis 6 January 2021
EUR USD Technical Analysis: The EUR rose 0.41% against the USD on Tuesday 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 1.2300, which is 0.03% higher from yesterday’s closed.
The pair is expected to find support at 1.2275 and a fall through could take it to the next support level of 1.2255. The pair is expected to find its first resistance at 1.2225, and a rise through could take it to the next resistance level of 1.2350. Today’s expected trading range is between 1.2215 support and 1.2375 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2275
Support 2: 1.2255
Support 3: 1.2215
Important Important resistance levels:
Resistance 1: 1.2225
Resistance 2: 1.2350
Resistance 3: 1.2375
EUR/USD buying opportunity for intraday trading on January 6, 2021
Buy near the support zones 1.2275 and 1.2255 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 6, 2021
Sell near the resistance zones 1.2225 and 1.2350 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: Markit Services PMI (EUR), Markit/CIPS Services PMI (GBP), PPI m/m (EUR), ADP Nonfarm Employment Change (USD), Markit Services PMI (USD), EIA Crude Oil Stocks Change (USD).