Bearish Continuation: The EUR/USD is bearish, and after consolidating for about a month in November, it signaled bearish continuation last week to begin December. This week, price extended lower to a new low on the year at 1.2250 as we can see in the 4H chart, where all the technical signs remain bearish (based on price action, moving averages and the RSI). In the 4H EUR/USD chart, we can also see that there is a bullish divergence between price and the RSI. It is now resolved, but there still might be some near-term bullish risk. Resistance at 1.24: If price rallies back to the 1.24 handle, we should be ready for ... (full story)