First actions of the European Central Bank in 2021

The level of 1.2339 is decisive in the second half of the week. The reaction yesterday suggests that limit orders of major players are located at this level. The continued growth will require today's close above the bank level. In this case, the next growth target will be the bank liquidity zone located below the level of 1.2440.

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The current dynamics is in upward movement, which allows you to keep some of the purchases opened in December. It is important to understand that keeping the price below the level of 1.2339 will allow you to form a medium-term accumulation zone. The target of the downward movement will be the lower zone of bank liquidity at 1.2239. The movement in this range will allow you to get more favorable prices for the purchase of the instrument in the near future.

If today's close will occur above the level of 1.2339, then purchases will need to be made at the retest of this level. Growth may become the main direction of trade in the first half of January.

The material has been provided by InstaForex Company - www.instaforex.com