(DAILY NOTION) EUR/USD Holds Gains Above 1.2250, Next Mover: U.S. Stimulus

Illustration photo of EUR/USD daily chart from Tradingview

The EUR/USD is currently trading at 1.2255 and trying to settle above the resistance level at 1.2250. As there is no major economic news, forex traders will focus on the US Senate moves as policymakers are determined to question Trump’s push during his last days in the White House, as well as the development on the U.S. stimulus front.

EUR/USD managed to get above the resistance level at 1.2250. The Stochastic RSI indicator touched the oversold area and it is possible to gain additional upward momentum in the short-term in case the right catalysts emerge.

As reported by Vladimir Zernov, He pointed out that if EUR/USD settles above the resistance level of 1.2250, it will move towards the next resistance level at 1.2280 and then move to the next resistance level at 1.2325 after head towards 1.2280.

On the support side, He pointed out that the resistance level of 1.2250 will serve as the first support level. EUR/USD will move towards the support at 1.2175 if moves below the level at 1.2250.

FOLLOWME EUR/USD Overall Sentiment (As of 05:00 p.m., Dec 29, 2020),

Short - 33.53%

Long - 66.47%

For information please refer to Vladimir Zernov.