The EUR / USD pair at the opening of the American session, is trading below the uptrend channel and below the SMA of 21, now it has very close at the bottom the support zone of 1.2130, a level that coincides with the 200 EMA, at this level we expect a technical rebound.
The evolution of the eagle indicator as a trading signal shows us that the EUR / USD pair is approaching an oversold zone, and it is likely that there will be a rebound at the 1.2130 levels, which could occur in the next few hours, if it breaks this level we have good support at 1.2085.
In the 4-hour chart you can see the area painted yellow, they are support and resistance areas that we have indicated, you must keep in mind these levels that fit with the price action.
Market sentiment for today, January 11, shows a figure of 58% of operators who are selling the EUR / USD pair, this is a sign that, in the medium term, the euro-dollar could have a technical rebound to the SMA of 21, at 1.2250.
Our recommendation for today and tomorrow is to buy the EUR / USD pair, only if the pair is holding or trading above the 200 EMA on 4-hour charts. On the other hand, if it breaks this level, we must avoid purchases.
Support And Resistance Levels For January 11-12, 2021
Resistance (1) 1.2180
Resistance (2) 1.2232
Resistance (3) 1.2272
Support (1) 1.2140
Support (2) 1.2089
Support (3) 1.2002
Trading tip for EUR/USD for January 11-12, 2021
Buy if rebound EMA 200 at 1.2136, with take profit at 1.2207 and 1.2250, stop loss below 1.2100.
Sell if pullback to 1.2250 ( SMA 21) with take profit at 1.2190 and 1.2136 (EMA 200) , Stop loss above 1.22850.
