empty
 
 
18.12.2020 08:13 AM
Trading plan for EURUSD for December 18, 2020

This image is no longer relevant

Technical outlook:

EURUSD rallied through 1.2272 highs yesterday, signaling that a potential top formation could be near. The projected range for a high was between 1.2150 through 1.2300 as indicated on the daily chart here. The single currency pair is seen to be trading around 1.2244 levels at this point in writing and might be preparing to continue lower towards 1.2050 mark at least, in the next few trading sessions.

The rally that had begun from 1.0636 lows registered in March 2020, since to be complete or into its later stages of termination. Immediate support on the daily chart comes in around 1.2250/60, while resistance is at 1.2300 levels respectively. The bearish confirmation is still not seen on the daily chart but traders might remain watchful here.

The structure remains constructive for bears to resume lower towards 1.2050 levels at least in the next few trading sessions. Also note that potential remains for a break below 1.1600 support going further, which is fibonacci 0.382 retracement of the entire rally between 1.0636 and 1.2272 levels respectively.

Trading plan:

Aggressive traders might remain short from here, stop @ 1.2370, target is 1.1600

Good luck!

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback