The EURUSD touches the second positive target – Analysis - 22-01-2021

The EURUSD pair succeeded to touch our waited target at 1.2173 and attempts to breach it, which supports the expectations of continuing the bullish trend on the intraday and short term basis, noting that our next target reaches 1.2300.

On the other hand, we notice that the price completed forming double bottom pattern that appears on the chart, to provide positive motive that supports the chances of achieving the waited targets, noting that the continuation of the bullish wave requires holding above 1.2145, as breaking this level might press on the price to test 1.2064 areas before any new attempt to rise.

The expected trading range for today is between 1.2100 support and 1.2270 resistance.

The expected trend for today: Bullish