The Euro Begins to Put Pressure on The Demand Areas 14/12/2021

The euro failed to stabilize for a long time above the psychological barrier of 1.1300 to start its daily trading on a bearish slope and start pressing on the key demand area 1.1260.

Technically, and by looking at the 4-hour chart, we notice that the RSI is losing its bullish momentum on the short time frames, in addition to the clear negative signs on Stochastic.

Therefore, we believe that the bearish trend is the most preferred, and we are witnessing a negative trading session for the EUR/USD, with the condition of confirming the break of 1.1260 to target 1.1200/1.1220 a targeted price station, and then 1.1175.

Activating the suggested bearish scenario depends on the stability of trading below 1.1300, and most importantly 1.1330, considering that the recent breach may force the pair to touch the pivotal resistance 1.1385 before retreating.

S1: 1.1220	R1: 1.1310
S2: 1.1175	R2: 1.1350
S3: 1.1110	R3: 1.1385