The pair rose significantly amid the news about the economic support fund in the eurozone, as well as the likely adoption of a new pandemic stimulus package in the US, as reported on Tuesday. This results in a weaker dollar and supports the growth of the pair. A corrective decline is also a possibility after this news has been priced in.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and is moving horizontally. Stoch are also in this zone, but are uninformative.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the pair drops below the 1.2060, it may go further to 1.2035. Buy it from this level, and if it remains above 1.2060, there is a possibility for further growth to 1.2155.