The EUR / USD pair in the morning of the American session is trading above the EMA of 200 periods, now it is above a very strong support zone, as this level on December 21 was tested, on the other hand, the Eagle indicator is showing oversold signal.
The EUR / USD pair is in the overbought zone, in 4-hour charts we are seeing a consolidation above 1.2132, this level has slowed the fall of the pair. We must hope that above this level the pair will regain strength.
In the chart, we have indicated in yellow the levels that we must take into account, the 1.2132 as an important support for now, and the 1.2207 as a resistance that coincides with the SMA of 21.
Our recommendation, according to the price action, is to buy above the 200 EMA, if the pair breaks this level, we must avoid buying.
The market sentiment report for today, January 12, shows a figure of 55% of operators that are selling EUR / USD. This is a sign that even in the market there is upward force for the currency pair, and that we could expect a bullish move to 1.22 in the short term.
Support And Resistance Levels For January 12-13, 2021
Resistance (1) 1.2202
Resistance (2) 1.2253
Resistance (3) 1.2293
Support (1) 1.2112
Support (2) 1.2076
Support (3) 1.2021
Trading tip for EUR/USD for January 12-13, 2021
Buy above EMA 200 at 1.2132, with take profit at 1.2170 and 1.2205, stop loss below 1.2100.
Sell if pullback to 1.2207 ( SMA 21) with take profit at 1.2145 (EMA 200) , Stop loss above 1.2242.
