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06.01.202011:09 Forex Analysis & Reviews: Trading plan on EUR/USD for January 6, 2020

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Markets remain under pressure after the death of one of Iran's top generals by the hands of US forces during a special operation in Baghdad (Iraq). The operation was authorized personally by Trump, and Iran's leader, Khamenei, promised a tough response.

On the weekend of January 4-5, Trump threatened that in an event of a retaliatory strike by Iran, he will answer in the form of a strike on 52 sites in Iran. Meanwhile, on the other side, Iran said over the weekend that it was withdrawing from all restrictions on the nuclear agreement and was ready to resume work on the creation of nuclear weapons.

EUR/USD:

Despite the pressure from sellers, the growth trend of euro has not been canceled yet.

It makes sense to buy euro at the break of 1.1180 up.

Hold purchases from 1.1035, then stop and turn down from 1.1065.

A key level was formed downwards to reverse the trend: 1.1120.

In case of consolidation below 1.1120, chances of growth will significantly decrease.

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