What we have above is EURUSD on a weekly and 4h TF. This is an overview analysis going into the new year. Now yesterday was the 22nd of december which is the winter solstice and could indicate a potential high or low being formed.
We saw the price decline however we stopped the lower highs and lower lows once we hit the weekly demand zone marked in blue. At that point we can see on the 4h chart on the left how the price has been accumulating since. For the price to break to the upside we need a clear break of the purple line indicated which is a resistance level that has been tapped into many times making it weaker.
We can look at this pair once we start trading into the new year, just wanted to give you guys a bit of an overview.
We saw the price decline however we stopped the lower highs and lower lows once we hit the weekly demand zone marked in blue. At that point we can see on the 4h chart on the left how the price has been accumulating since. For the price to break to the upside we need a clear break of the purple line indicated which is a resistance level that has been tapped into many times making it weaker.
We can look at this pair once we start trading into the new year, just wanted to give you guys a bit of an overview.