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01.02.202116:41 Forex Analysis & Reviews: Short-term technical analysis on EURUSD

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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.

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