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- EUR/USD Price Analysis: Bears lurking below key trendline support
EUR/USD Price Analysis: Bears lurking below key trendline support
- EUR/USD bears are moving in and testing structure.
- The daily trendline support has been broken.
EUR/USD is flat in the open following a negative day on Friday as the following technical analysis will illustrate. The bears are in the market and structures are being tested.
EUR/USD daily chart
EUR/USD´s daily chart shows a tweezer top, a bearish formation that would be expected to be followed by lower highs and lower closes for the week ahead, especially givent he bears are on on the backside of teh bullish trend.
EUR/USD H4 charts
The 4-hour chart shows the price reaching out of the falling wedge, but the advance has been capped:
The M-formation is a topping pattern and a retest of the neckline could be on the cards prior to the next significant downside continuation for the days ahead.
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