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- EUR/USD Price Analysis: Bears in the market and eye break of 1.0909
EUR/USD Price Analysis: Bears in the market and eye break of 1.0909
- EUR/USD is on the verge of a breakout.
- EUR/USD bears on the backside of the bullish trend.
EUR/USD has moved to the backside of the bullish trend and below 1.0990 which is now acting as a resistance structure.
EUR/USD weekly chart
The weekly chart shows that the price is pausing at a longer-term resistance area:
The following is a daily and lower timeframe analysis that illustrates the prospects of a move to test 1.0909 and the 1.0830s for the week ahead.
EUR/USD daily chart
If the bears stay committed to the move below 1.1000 and to the back side of the bullish trend, then a break of 1.0910 opens the risk for lower levels:
The 4-hour chart shows that the bulls are attempting to take back control and a break of 1.1090 and 1.1030 will possibly see further demand for higher to come.
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