Trading tip for EUR/USD for December 25 – 28
Sell below (EMA 200 and SMA 21) around 1.2170, with take profit at 1.2146 (7/8 of murray) and 1.2085, stop loss above 1.2210.
Buy if the pair rebounds around 1.2146 (7/8 of murray), with take profit at 1.2207 (8/8 of murray) and 1.2268, stop loss below 1.2115.
Sell if the pair breaks through 1.2140, (7/8) with take profit at 1.2085, stop loss above 1.2175.
The EUR/USD pair is trading within a technical pattern called a symmetric triangle, this pattern could give us a bearish target if it breaks through the bottom of the triangle line with the targets at 6/8 Murray at 1.2085.
If it fails to break out and EUR/USD consolidates and trades above the 21 SMA around 1.2205, we could buy with the target at +1/8 murray, 1.2268.
Support And Resistance Levels For December 25-28
Resistance (1) 1.2216
Resistance (2) 1.2252
Resistance (3) 1.2284
Support (1) 1.2149
Support (2) 1.2118
Support (3) 1.2082
