EURUSD 1/12/24

As we enter the first week of December, our bias remains the same as last week—bearish. While the GBP/USD pair has shifted to a bullish bias, EUR/USD has yet to follow suit. As always, we track price based on our established bias.

From this chart, you can see several bearish targets in the form of liquidity lows. If we see a push higher, this may take price into the supply area above and toward the nearest liquidity high relative to the current price. At this stage, we will look for a clear sell setup to drive price back down toward the liquidity levels marked below.

If no pullback occurs and price moves lower, aligning with our bearish bias, we’ll look for liquidity highs to form and be taken out as we continue downward. Be aware of the demand zone sitting below the current price, as it may push the market back up if contacted.

For now, we remain bearish and focused on sell opportunities. Keep an eye on the daily bias, as it could shift if price holds higher within this range.

Trade safe and stick to your plan!