EUR USD Technical Analysis 16 December 2020
EUR USD Technical Analysis: The EUR rose 0.06% against the USD on Tuesday and closed at 1.2150. Today in the Asian session, while EUR USD technical Analysis 16 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2160, which is 0.07% lower from yesterday’s closed.
The pair is expected to find support at 1.2125 and a fall through could take it to the next support level of 1.2105. The pair is expected to find its first resistance at 1.2175, and a rise through could take it to the next resistance level of 1.2220. Today’s expected trading range is between 1.2060 support and 1.2200 resistance.
The expected trend for today is Bullish (Above 1.2185)
Important support levels:
Support 1: 1.2125
Support 2: 1.2105
Support 3: 1.2060
Important Important resistance levels:
Resistance 1: 1.2175
Resistance 2: 1.2200
Resistance 3: 1.2250
EUR/USD buying opportunity for intraday trading on December 16, 2020
Buy near the support zones 1.2125 and 1.2105 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 16, 2020
Sell near the resistance zones 1.2175 and 1.2200 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: PPI Output m/m (GBP), Core CPI m/m (GBP), ECB Executive Board Member Panetta Speech (EUR), Markit Manufacturing PMI (EUR), Markit/CIPS Manufacturing PMI (GBP), Trade Balance (EUR), CPI m/m (CAD), Retail Sales m/m (USD), Core Retail Sales m/m (USD), Markit Manufacturing PMI (USD), Business Inventories m/m (USD).