EURUSD Early December Plan" The price has to come down below the month's opening and clear early buyers."
Explanation: For the market to show signs of a bearish move or a retracement, the price must dip below the opening level of the current month. This would likely "clear" or trigger stop-losses for traders who entered early in the month, especially those with bullish positions. If the price moves below this level, it could signal a shift in market sentiment.
" Early December news & NFP can be a great catalyst so far."
Explanation: Economic news, particularly Non-Farm Payrolls (NFP), can act as a catalyst for significant price movement. If the data from NFP or other relevant December news surprises the market, it could push EUR/USD lower, especially if the U.S. economy shows strength (e.g., higher-than-expected job growth). These events can amplify the move below the monthly opening level, leading to a deeper retracement.
" The crucial thing is that it is almost a yearly closure and we can see the price to retrace."
Explanation: As the year-end approaches, many traders and investors start to adjust their positions, taking profits or reducing risk exposure before the year's close. This often leads to retracements in price as the market may "correct" after a strong trend. A retracement could also occur due to profit-taking before the new year, especially if the market has been in a strong trend for most of the year.
" Looking for handsome buys."
Explanation: Despite the short-term bearish outlook or retracement, the overall sentiment seems to be preparing for a buying opportunity. Once the price pulls back (likely after clearing the early buyers and showing signs of a deeper retracement), this could be an excellent entry point for longer-term buyers. The expectation is that after the retracement, the price will reverse and move higher, giving traders a good buying opportunity.
