- 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
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
