EUR USD Technical Analysis 20 January 2021
EUR USD Technical Analysis: The EUR rose 0.43% against the USD on Tuesday and closed at 1.2128. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2154, which is 0.21% higher from yesterday’s closed.
The pair is expected to find support at 1.2115 and a fall through could take it to the next support level of 1.2085. The pair is expected to find its first resistance at 1.2157, and a rise through could take it to the next resistance level of 1.2175. Today’s expected trading range is between 1.2050 support and 1.2220 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2115
Support 2: 1.2085
Support 3: 1.2055
Important Important resistance levels:
Resistance 1: 1.2157
Resistance 2: 1.2175
Resistance 3: 1.2220
EUR/USD buying opportunity for intraday trading on January 20, 2021
Buy near the support zones 1.2115 and 1.2085 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 20, 2021
Sell near the resistance zones 1.2157 and 1.2175 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: Core CPI m/m (EUR), CPI excl. Tobacco m/m (EUR), CPI m/m (CAD), BoC Monetary Policy Report (CAD), BoC Interest Rate Decision (CAD), BoC Monetary Policy Report Press Conference (CAD), BoE Governor Bailey Speech (GBP).