FX.co ★ Trading Signal for EUR/USD for December 22 - 23, 2020: Downward Pressure

The euro-dollar pair is trading at this moment close to the 4-hour bearish pressure zone, very close to the +1/8 of murray and having completely covered the GAP that it left earlier this week.

At this time of writing the analysis, in the American session we noticed that the EUR / USD is reaching a zone of strong resistance, as the eagle indicator is showing a reversal signal, it is likely that from this point the euro will make a correction again.

As we have noticed that the pair has completely closed its GAP, there is likely to be a correction to support levels of 1.2207 and lower to the strong support of 1.2130.

Our recommendation at this time is to sell only if the pair trades below 1.2250, targeting 1.2207 (8/8 murray) and 1.2146 (7/8 murray).

Market sentiment shows that there are 68% of traders who are selling this pair, therefore, any correction made by the EUR / USD can be seen as an opportunity to buy again with targets at 1.23 in the medium term.

Trading tip for EUR/USD for December 22 – 23

Sell now at 1.2250 with take profit at 1.2207(8/8) and 1.2146( strong support), stop above 1.2280.

Buy if the pair rebound around 1.2207 (8/8), with take profit at 1.2268, stop loss below 1.2170.

Sell if break below 1.2200 with take profit at 1.2146, stop loss above 1.2240.