Get 40% Off
to Daily Price Action.
Ends January 31st!
EURUSD is testing a must-hold level today at 1.2150.
That’s the level that served as resistance during the first half of December and later flipped to support.
As I mentioned on Saturday, a daily close below 1.2150 would open the door to the 1.2000 area.
That’s the top of the multi-month range that broke in December.
Only a close below 1.2000 would flip my bias from bullish to bearish.
As long as the EURUSD is above that area, I like the idea of buying dips.
Keep in mind, too, that the euro is still in its early stages of breaking out from a massive symmetrical triangle.
Get FREE Access to Daily Price Action When You Open and Fund an Account With Blueberry Markets!
As long as EURUSD is carving higher highs and lows following the July 2020 breakout, the uptrend is intact.
That said, I don’t see an immediate opportunity to get long.
I’m still holding a long position from November 27th, although I have removed some of that position.
If the pair closes below 1.2150, I will book profit on the rest.