The EUR / USD pair in the morning of the US session is trading above the 21 SMA and below the 200 EMA on 4-hour charts.
The simple moving average of 21 periods, is behaving as an immediate support for the EUR / USD around 1.2105, due to the downward pressure, we expect the EUR / USD to rebound in the support zone of 3/8 of murray, at 1.2085.
A break and quote below the 3/8 of murray, below the support of 1.2085, we expect the downward pressure to accelerate to the support of 1.2005, the psychological level of the euro-dollar.
The market sentiment report for today, January 20, shows a figure of 55.75% of operators that are selling the EUR / USD pair, this means that in the short term, the euro can consolidate above the psychological level of 1.20.
Our recommendation is to buy above the 3/8 murray, above 1.2085, targeting the 200 EMA, the eagle indicator is giving a slight bullish signal.
Support And Resistance Levels For January 20-21, 2021
Resistance (1) 1.2150
Resistance (2) 1.2185
Resistance (3) 1.2227
Support (1) 1.2083
Support (2) 1.2042
Support (3) 1.2011
Trading tip for EUR/USD for January 20-21, 2021
Buy above SMA 21 at 1.2105, with take profit at 1.2177 and 1.2205 , stop loss below 1.2085.
Buy if rebound around 1.2085 (3/8), with take profit at 1.2177 and 1.2205, stop loss below 1.2050.
Sell if pullback to 1.2177 ( EMA 200) with take profit at 1.2125 and 1.2085, Stop loss above 1.2205.
