[CRT] Weekly EURUSD projection for the week of December 8

To put things into perspective, last week we started the month of December, which would activate a
bullish range thanks to the close of the November candle within the range of the September candle, after having previously liquidated it.

From the CRT perspective, the first 20–25% of a candle’s movement usually develops in the opposite direction to its main movement. This allows us to propose, on a monthly timeframe, that last week’s movement could have formed
the wick of that candle, and that now the price could reverse and resume the
macro bearish trend to complete its objectives (this is simply
an observation that keeps us alert for the upcoming week, especially when
we liquidate the previous week’s high, but in no case should it be an excuse to “pull the trigger” without a plan).

Focusing now on what interests us for this coming week, and specifically for Monday, we need to
zoom in even more and go down to the weekly timeframe:

On the weekly chart, we find three key points:

1. The target set for the previous week was completed.
2. The price closed with the body outside the previous candle.
3. The price also closed with the body outside the already reached target.

For all these reasons, at a minimum, we expect the next weekly candle to seek
the previous high, for two reasons, always under the CRT lens:

1. If the price intends to keep rising, it will inevitably go for that high.
2. If the price wants to turn downwards, it must first liquidate that high.

Additionally, the weekly high was formed very early on Thursday, during the Asian session, so we discard the hypothesis of a failure swing.

Up to this point, what we see are quite clear buys for Monday. Even so, we need to sharpen our view a bit more and go down to the daily to review what scenario this asset left us on Friday:

On the daily, at the FXCM broker, Friday’s close value exactly matches the low of the previous candle. To clarify any doubt, we go to futures:

Futures provide us with the real market data, so in case of any discrepancy or doubt, the reference should always be the futures market.

Here we also see a new bullish range generated practically at the very last hour on Friday, which invalidates any bearish reading for Monday and allows us to propose
buys up to the previous weekly high, where we can then evaluate possible reactions.

To top it off, EURUSD still maintains a pending 6D target to complete:

and GBPUSD continues pointing to longs, while DXY suggests shorts.

I hope this analysis brings you clarity and that the week comes loaded with good profits.