EUR/USD Price Analysis: Bulls and bears in a tug of war at critical area on H4 and daily charts – by fx_ross EURUSD Technical Analysis
Bulls eye a move to 1.0800 while bears look to the trendline and lower end of the 1.05s. , the bears are still lurking at a critical juncture on the charts as the following will illustrate. It was illustrated that we were seeing the bears try to commit below the counter-trendline resistance and around the neckline of the formation as follows:
If the bears commit, then a test of the trendline could be the next objective and a 50% expansion of the recent consolidation range exposes the lower quarter of the 1.05s. The price has corrected into a 61.8% ratio and so long as the support quarter of the 1.05s holds, then a bullish impulse into 1.0800 could be on the cards.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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