untitled design

EUR/USD Price Analysis: Bears stalk the front side of the trend line

  • EUR/USD bears target 1.0750.
  • The bulls need to overcome the resistances of the trend line.

EUR/USD is watching closely for a 50% mean reversal and resistance near 1.0790. However, the bears are in the market and the bias remains to the downside while on the front side of the downtrend lines. A move could take place to test the 1.0750 area, as illustrated above.

EUR/USD Technical Analysis

EUR/USD bears are in the market with price on the front side of trend line resistances. The bears are targeting potential support zones as noted on the chart above.

4 hour chart

On the 4-hour chart, the bulls are at the support. In a bullish scenario, the price would break the resistance and approach 1.0850 and 1.0900.

A 50% mean reversal aligns with trend line resistance near 1.0790. If the bears do engage then we could see a move to test the depths of 1.0750 as illustrated above.

Source: Fx Street

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular