(DAILY NOTION) EUR/USD Possible Break Above 1.2310 Level, Next Mover: U.S. Stimulus & U.S. Employment Data

Illustration photo of EUR/USD daily chart from Tradingview

EUR/USD is currently trading at around 1.2290, trying to settles above 1.2300. The EUR/USD reached the new 2020 high as speculative interest kept selling the greenback.

There isn't any market-moving economic data release from the UK today. As for today, forex traders will focus on the U.S. stimulus news. Furthermore, traders will have a chance to look at the U.S. employment data.

RSI indicator touched the overbought area and it is possible to gain additional momentum in the short-term in case the right catalysts emerge. As reported by Vladimir Zernov, He pointed out that EUR/USD will move towards the resistance level at 1.2350 if manage to settle above the 1.2325 level.

On the support side, he pointed out that the resistance level at 1.2280 will serve as the first support level for EUR/USD. EUR/USD will move towards the next support level at 1.2250 if decline below the 1.2280 level. EUR/USD will push towards 1.2220 if successfully test at the 1.2250 level.

FOLLOWME EUR/USD Overall Sentiment (As of 05:20 p.m., Dec 31, 2020),

Short - 36.04%

Long - 63.96%

For information please refer to Vladimir Zernov.