Outlook on EURUSD: Bearish play seen

Dec 23, 2021

On the H4 time frame, prices are facing bearish pressure from its resistance zone at 1.13489 where we could see further downside. That said, we would also like to highlight the M30 demand zones at 1.13120 and 1.12976 where we could see a pullback before a further drop. Currently, prices are testing the demand zone at 1.13120 and a pullback to the resistance level at 1.13345 presents an opportunity for a short. Ichimoku cloud is showing signs of bearish pressure as well.