The EUR / USD pair, in 4-hour charts, is under strong downward pressure, as it is trading below the 200 EMA and below the 21 SMA, and below the uptrend channel, this is a sign that could continue the fall to the support of 1.2085 and lower to 1.2065.

As the 4-hour uptrend channel has broken, a correction to the 1.2050 support is likely, therefore, we have an opportunity to continue selling the EUR / USD pair at this time.

On the other hand, a pullback towards the resistance zone of 1.2150, level where the SMA of 21 is located, could be a good selling opportunity, we recommend at this level to sell with targets at the support of 1.2085.

If the pair makes a technical bounce at the 1.2050 support, above this level, it will be a good buying opportunity, as this has been a key level that in the past has offered strong support to the pair.

Our recommendation is to sell at current levels with targets at 1.2055.

Support And Resistance Levels For January 27 - 28, 2021

Resistance (1) 1.2118

Resistance (2) 1.2150

Resistance (3) 1.2185

Support (1) 1.2049

Support (2) 1.1990

Support (3) 1.1945

Trading tip for EUR/USD for January 27 - 28, 2021

Sell below 1.2105 with take profit at 1.2085 and 1.2050 (Strong Support), stop loss above 1.2150.

Sell if pullback at 1.2150 (SMA of 21) with take profit at 1.2185 and 1.2050, stop loss above 1.2185.