The EUR / USD pair this morning of the American session on the 4-hour charts, is trading above the 4-hour pressure line above 1.2115, if the pair remains above this level we could expect a bullish movement, for on the contrary, below this level it would be a good opportunity to sell.
Analyzing the 4-hour chart we note that EUR / USD, the candle before the current price has left an engulfing candle, and has not been able to break the basjist channel (red line) so this is a signal that the market could make a move bearish for the next few hours, however, you can visualize that the euro-dollar remains above the 4-hour uptrend channel.
A sharp break of the uptrend channel below 1.2105 will be a good opportunity to sell with targets until the next uptrend channel located at 1.2023, this channel support could give you a bullish bounce, but if the downward pressure is stronger, we would expect a bearish move to the 200 day EMA. (1.1890).
The market sentiment for this morning of December 11 shows that there are 67% of investors who are selling this pair, it is still stable this week, it is most likely that it will continue to make corrections and then take upward momentum. Our recommendation is to wait for a rebound and buy again.
The eagle indicator in 4-hour charts is trading within a downtrend channel, it could continue to move within this channel, this could lead the euro to gradually lose upward strength, and if it breaks its 4-hour bullish channel the downward pressure would increase. Although we must wait.
Our recommendation is to buy above the uptrend channel, or above the 21-day EMA, we should only sell if the 1.21 level breaks, below this level we could expect a bearish decline. But avoid selling at current levels as there is a bullish bias.
Trading tip for EUR/USD for December 11 – 14
Buy above 1.2125 (EMA 21) with take profit at 1.2155 and 1.2256, stop loss below 1.2090.
Buy if the pair breaks above 1.2160, with take profit at 1.2256 (trend chanel), stop loss below 1.2115.
Sell if the pair breaks below 1.2105 (EMA 21) with take profit at 1.2022 (trend channel) and 1.1895 (EMA 200), stop loss above 1.2140.
Review our analysis of the December 09, the EUR/ USD.
Review our analysis of the December 10, the EUR / USD.