Relevance up to 17:00 2021-02-02 UTC+3
EURUSD remains under pressure. Price is below 1.21 and the last few sessions it mainly moves sideways between 1.2050 and 1.22. These two levels we need to keep a close on because a break above or below will give the tone for the next weeks.
Red line -resistance
EURUSD is trading below the red resistance trend line. As long as price is below it and above 1.2050 we remain neutral. A break above the red trend line will make us change to bullish. A break below 1.2050 will turn bearish. Traders need to be patient and wait as price is in a sideways trend now. So far support has been respected at 1.2050 and so was resistance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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