FX.co ★ EUR/USD

Hello traders, The trading week for the EURUSD pair closed below the expected value, almost near the weekly lows around 1.1706. Bears are becoming more persistent, starting to push the lows, which once again indicates a southern price movement scenario for the upcoming week. The liquidity gathered around the level of 1.1702 suggests that it is likely to be broken soon. A significant news driver, preferably strengthening the dollar, is needed for the EURUSD pair to decline. In case the bears manage to break below the 1.1702 level, the next target levels would be not at 1.1650, but much lower at 1.1660-1.1612 when liquidity is collected. It is towards these levels that I expect a resolution for the opening of the new trading week. As for now, it's the weekend, so it's best to relax before the decisive week of the current year, which may at least provide an understanding of all currency interventions. Many may now see a bearish triangle on the chart, suggesting a downward price breakout. H4 Chart: