How to trade EUR/USD on December 30?

On Wednesday, the EU and the US do not expect any major macroeconomic news. So, the fundamental picture will stay mostly unchanged during the day. Traders will again have to rely on technical analysis as long as the trend persists. Currently, the pair is trading in an upward trend.

Possible scenarios for December 30

1) Long positions on the pair remain relevant at the moment since the price has passed the descending trendline, while the uptrend is still in place. Now we should again wait until the indicator reaches a zero level and forms a new buy signal. After that, we can consider opening new long positions with the targets at 1.2270 and 1.2284. Also, a price rebound from a trendline can be used as a buy signal.

2) Trading short does not seem appropriate now. You can consider placing new sell orders only when the price settles below the ascending trendline. In this case, you can open short positions with the targets at 1.2167 and 1.2152.