The up and down December is continuing today as support held at the lows. The price is back in the mid range.

EURUSD
EURUSD on the daily chart

Looking at the daily chart, the low price back on November 24 bottomed near the high of a swing area near 1.11837. In December, the price range has been between 1.12208 and 1.1360 (about 140 pips). There's been lots of ups and downs and little trend like movement.

Looking at the hourly chart below, the chart was getting very crowded with lots of swing areas. I looked to simplify those swing areas as best I could (see yellow areas and colored number circles). There are a number of modest high low area where there has been a number of swing highs are swing lows.

On Friday and again today, the low price stalled near the low swing area between 1.1226 and 1.1233. The price and was able to move above the next swing area at 1.12595 to 1.12658. The next target is being tested now between the 100 and 200 hour moving averages (blue and green lines near 1.1285 and 1.12927. The price has moved above that level so the buyers are trying to make a play and tilt the price more to the upside. The 50% of the December trading range comes in at 1.13015. Getting above that would be like the seesaw going the other way (officially). Above that and traders will look toward 1.1323 to 1.1333.

Forex
The EURUSD remains within the trading range and nears 50%

Is it end of year, omicron and implications, uncertainty (certainty?) of central bank policy, or just a bunch of traders that are getting comfortable with trading the levels? I really don't know. However, the chart is full of up and down price action with chop between. Being patient, picking your spots and sticking a toe in the water is either going work (and your will know it) or it won't (and you'll know it).

If the low swing area at 1.1226 to 1.1233 holds, instead of going through, lean and hope that dynamic works (stop on a break below). Conversely if the 50% midpoint is your spot (because you like the USD going higher), lean there and get out if it goes above. That is what the "market" is doing. So be like the crowd.