FX.co ★ berta.hill | EUR/USD

EURUSD. Hello everyone. The bears continue to press the pair. This is no longer just pressure, it's methodical work. I was hoping for a pullback to ride down, but they couldn't arrange one. I remain out of the market. This is not the most pleasant state, but sometimes it's the right one. The price confidently trades in the put-options. This confirms the bearish mood. When the price is in the put-options zone, it indicates that sellers control the situation. The option balance remains up around 1.15629. It has paused, not moving closer to the price. I think this is temporary. And soon we will see it move down. The balance cannot stand still for long; it either follows the price or waits for an inflow of volumes. If you look at the balance of the current December futures contract in the range 1.15438–1.15690, you can see how well it reacts to fresh injections of open interest. At the same time it doesn't forget to follow the price. It is a dynamic metric, and it reflects the current balance of forces. I have no buy signals. Therefore I am not considering them. Bears are adding fresh volumes below. They mark out the following possible downside targets. I really don't want to stand against such a move. That would be unwise. If you look at what the bulls are adding, you can assume that they have run out of steam or do not see prospects for possible growth. This is an important observation. When buyers stop actively accumulating positions, it speaks to their weakness. The bears' targets according to weekly option contracts are in the range 1.14100–1.13914. And below that there will be a possibility to fall into the area 1.13350–1.13324. That scenario currently looks unlikely, but it should be taken into account when looking for buys. I will highlight some interesting levels, although they remain above they do not lose their relevance. First level 1.14378. Second level 1.14689. This is all a sell zone. It stretches much higher, up to the option balance at 1.15629. But I strongly doubt such a rise. Good luck.