The EUR/USD pair continues its third bullish day. It is now approaching the strong resistance of 1.2323. If it fails to break through it, we could see a correction in the next few hours.
You can see on the daily chart that EUR/USD remains within the bullish trend. A correction to the bottom of the bullish channel may give us an opportunity to buy.
If the pair fails to break through the 1.2323 resistance, we recommend selling below 1.2280 because at that level, the daily pivot and the 1-hour 21 SMA are located.
The eagle indicator is showing an overbought signal and is approaching an imminent correction.
Trading tip for EUR/USD for December 31 – January 1, 2021
Sell Below 1.2280 ( Pivot point) with take profit at 1.2230, Stop loss above 1.2315
Buy if there is a rebound at 1.2227, with take profit 1.2205 and 1.2323, stop loss below 1.2190.
Support And Resistance Levels For December 31 – January 1, 2021
Resistance (1) 1.2323
Resistance (2) 1.2349
Resistance (3) 1.2376
Support (1) 1.2257
Support (2) 1.2217
Support (3) 1.2188
The material has been provided by InstaForex Company - www.instaforex.com