After a very bearish week , we are now in neutral area , this does not mean that we will see a reversal, it means the pair is taking a breather and traders a re now deciding what direction to take on their entries.
Important areas:
S1 - 122.758
S2 - 122.297
S3 - 120.988
R1 - 123.744 (previous support)
R2 - 123.985
R3 - 124.448
Long climb is still with strength to test the next resistances, I expect a little correction to de downside but watching the Bitcoin reaching 16200 this week wouldn't be a surprise to me.
With the end of the year closer and closer, the usual behaviour of the crypto is to reach higher values, the current chart is showing a good platform to repeat that tradition.
Bulls are in control in this pair, being rising since the end of the last bearish movement (23rd of september), I strongly believe that the hard rejection of the low of the 2nd of november is the lowest this pair will know in the next days.
Breaking the first resistance (1.32579) is the greatest challenge on the way up.
Going long now is not the ideal entry...
EURUSD failed to offer us a new higher high in this past week, doing so for therdnd time since september 2nd.
I still think its too early to predict a trend break but I feel we can start to look at this chart as a sideways movement rather than a bullish one.
