EURUSD Rallies Maintain Upside Momentum Close to the Price Level at 1.1200

30 December 2019 | Updated: 30 December 2019

EURUSD Price Analysis – December 30

The EURUSD pair spiked to the highest level since mid-August at the price level of 1.1211 and entered the consolidation phase. At the time of writing, the pair was ranging near the price level of 1.1200, adding 0.2% per day.

Key Levels
Resistance Levels: 1.1515, 1.1450, 1.1280
Support Levels: 1.1178, 1.0981, 1.0879

EURUSD Long term Trend: Ranging

In the larger trend, the rebound from the level at 1.0879 is considered as a corrective movement at this stage. While anticipating a further advance, the growth potential may be contained by the recovery from the level at 1.1450 to 1.0879 to 1.1515.

While the downtrend from the level at 1.1450 (high) may continue at a later time. Nevertheless, a steady breakthrough of the 1.1515 level may weaken this bearish look and lead to stronger growth past the upside level at 1.1515.

EURUSD Short term Trend: Bullish

EURUSD so far advances to the level at 1.1210 during today’s trading. Violation of resistance on the 1.200 level indicates the continuation of the entire rebound from the level at 1.0879.

The intraday bias is currently on the rise for a 100% forecast from the level at 1.0879 to 1.1178 from 1.0981 to 1.1280 in the following sequence. In any case, the short-term forecast will stay cautious as long as the support of the level at 1.1066 persists, howbeit a pullback occurs.

Instrument: EURUSD
Order: Buy
Entry price: 1.1178
Stop: 1.1066
Target: 1.1450

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.