Price opened at 1.20770 today, which we projected to be a Bulls Entry Zone for the week. If price breaks the support level, we can expect Bulls to continue to the upside and take profit around 1.22250. HOWEVER, if price doesn't break the support level of 1.21500 then we can expect Bears to enter this area to take it to the downside (weekly Take Profit for Bears at 1.20030). Overall, we projected this pair to be BEARISH for the month of January 2021.
Comment:
Check out our updated analysis on this pair which is set for BEARISH activity on a long-term basis this quarter.
