EUR USD Technical Analysis 8 December 2020
EUR USD Technical Analysis: The EUR declined 0.13% against the USD on Monday and closed at 1.2109. Today in the Asian session, while EUR USD technical Analysis 8 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2127, which is 0.17% higher from yesterday’s closed.
The pair is expected to find support at 1.2080 and a fall through could take it to the next support level of 1.2040. The pair is expected to find its first resistance at 1.2160, and a rise through could take it to the next resistance level of 1.2175. Today’s expected trading range is between 1.2000 support and 1.2200 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2080
Support 2: 1.2040
Support 3: 1.2000
Important Important resistance levels:
Resistance 1: 1.2160
Resistance 2: 1.2175
Resistance 3: 1.2200
EUR/USD buying opportunity for intraday trading on December 8, 2020
Buy near the support zones 1.2080 and 1.2040 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 8, 2020
Sell near the resistance zones 1.2160 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: Employment Change q/q (EUR), GDP q/q (GBP), Nonfarm Productivity q/q (USD), Unit Labor Costs q/q (USD), EIA Short-Term Energy Outlook (USD).