EURUSD building cause for a big move

13 de dez. de 2021

EURUSD looks like it is setting up to provide some great momentum heading into 2022. The daily and 4h timeframes are still showing bearish market structure forming lower highs and lower lows, however, price has now paused and started moving laterally at a weekly demand zone. This is key. Price action looks to have the classic features of an accumulation or distribution schematic where buyer and seller commitment is being tested at the highs and lows of the range. I see a cause for both a continuation of bearish momentum or for the higher time frame (weekly) to kick in meaning price could become bullish, at least in the short term. Either way, I'll be trading at the range extremes (highs and lows) and waiting for further developments over the coming days as to the longer term price direction. Interesting one to watch...