Alex Dudov
⬤ The EUR/USD daily chart shows a clear recovery phase after taking a hit earlier in the quarter. The pair bounced back from the 1.1450–1.1500 zone in November and has been steadily climbing into December. Recent candles show the pair pulling away from those lows and pushing closer to 1.17.
⬤ Before this bounce, EUR/USD was under heavy selling pressure through October and early November, dropping from levels near 1.19. Since mid-November, the chart's been printing higher lows, which suggests things have stabilized after that selloff. Price has held above 1.16 in recent sessions, showing buyers are keeping control of this short-term rally.
⬤ Right now, EUR/USD is trading below the 1.18–1.19 range that acted as resistance earlier this year. The chart shows price taking a breather after the recent climb, and there's no clear signal yet on where it heads next. The pair seems to be consolidating after the upward move, leaving the near-term direction up in the air.
⬤ This matters for the broader currency market because EUR/USD often signals shifts in strength between the euro and dollar. Trading near 1.17 puts the pair at a technical level where traders will be watching to see if the recovery continues or if we get more sideways action. How price reacts around here could set the tone for short-term sentiment across major currency pairs.
Alex Dudov
