- EUR/USD bears are eyeing the trendline support for an explosive breakout.
- The price is being resisted and a break of 1.0575 will likely encourage the bears to target a break of 1.0500.
As per the prior analysis, EUR/USD Price Analysis: Bears sink in their teeth to test bulls at a critical support structure, the bears are capping the bull’s attempts to break higher. We have seen the price start to coil on the backside of the prior bullish trend but still, the Euro remains on the front side of the more dominant bullish trend as the following will illustrate.
EUR/USD prior analysis
the above showed the prospects of an explosive move below trendline support and given the holidays, a narrow range could still be the fuel for the same in the full trading days between Christmas and New Year.
The price is being resisted and a break of 1.0575 will likely encourage the bears to target a break of 1.0500.