After the demonstrated sideway movement took place in November, evident signs of BUYING Pressure has originated around the depicted price zone of 1.1800-1.1840.
Shortly after, the EUR/USD pair has demonstrated a significant upside movement after the recent breakout above the depicted price zone (1.1750-1.1780) was achieved.
As mentioned in the previous article, the pair has targeted the price levels around 1.1990 which exerted considerable bearish pressure bringing the pair back towards 1.1920 which constituted a temporary KEY-Zone for the EUR/USD pair.
That's why, another episode of upside movement was expressed towards 1.2160 where a false breakout to the upside was regarded as a bearish reversal signal.
Hence, Bearish closure below the mentioned price zone of 1.2100 is needed to turn the intermediate outlook for the pair into bearish and enhance a quick bearish decline towards 1.1920 and 1.1840.
Trade Recommendations :-
Currently, Conservative traders should be looking only for SELL Positions around the price level of 1.2150-1.2170. Exit level should be placed above 1.2177.