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Technical analysis EUR/USD for January 4, 2021


EUR/USD has continued to new highs at 1.2310 and is clearly in the final stages of the rally from March 2020, but as long as support at 1.2168 remains intact the uptrend is firmly in place and could continue higher towards the 1.2453 target.

If, however support at 1.2168 is broken, then we must conclude that a top is in place and a larger correction should be expected in the weeks/months to come, but for now remain focused towards the upside for the final push higher towards 1.2453 to complete the uptrend since March 20 - 2020 and the be ready for a larger correction towards 1.1602.

Remember the trend and patience are your friends

The material has been provided by InstaForex Company -