EUR USD Technical Analysis 7 January 2021
EUR USD Technical Analysis: The EUR rose 0.23% against the USD on Wednesday and closed at 1.2325. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2272, which is 0.43% lower 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 1.2230. The pair is expected to find its first resistance at 1.2345, and a rise through could take it to the next resistance level of 1.2360. Today’s expected trading range is between 1.2215 support and 1.2360 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2245
Support 2: 1.2230
Support 3: 1.2215
Important Important resistance levels:
Resistance 1: 1.2345
Resistance 2: 1.2360
Resistance 3: 1.2400
EUR/USD buying opportunity for intraday trading on January 7, 2021
Buy near the support zones 1.2245 and 1.2230 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 7, 2021
Sell near the resistance zones 1.2345 and 1.2360 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: Trade Balance (CAD), Trade Balance (USD), Initial Jobless Claims (USD), Ivey PMI (CAD), ISM Non-Manufacturing PMI (USD).