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.

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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