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04.01.202114:46 Forex Analysis & Reviews: EUR/USD analysis for January 04 2021 - Upside continuation with potential test of 1.2350

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ECB's de Cos: We can use full PEPP envelope or increase it if required

Would not need full PEPP envelope if financial conditions persist

Yield curve control is an option worth exploring

One of the less talked about issues as we start the new year is the divide among ECB policymakers at their last meeting in December.

The remarks by de Cos above reflect one side of that divide and will certainly run into some opposition from the other side as things continue to progress later on in the year.

Further Development

Analyzing the current trading chart of EUR/USD, I found that the buyers are in control and that EUR got strong rejection of the rising trendline, which is good for uspide continuation.

Watch for buying opportunities on the pullbacks with the targets at the price of 1,2350 and 1,2410.

Stochastic is still bullish and not in the overbought zone on the 4H time-frame.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Silver and Lean Hogs today and on the bottom Ethanol and Lumber.

EUR is positive for today....

Key Levels:

Resistance: 1,2310 and 1,2350.

Support levels: 1,2225

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