#EURUSD @ 1.07704 bears eye a run towards 1.0750.
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- EUR/USD bears eye a run towards 1.0750.
- Bulls need to get over the trendline resistances.
EUR/USD eyes a 50% mean reversion 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 bearish trendlines. A move to test the depths of the 1.07s as illustrated above could be on the cards.
EUR/USD bears are in the market with the price on the front side of the trendline resistances. The bears are targeting the potential supporting areas as marked up on the chart above.
Zooming down to the 4-hour charts, the bulls are engaged at support. A bullish scenario would see the price break resistances and move in on 1.0850 and 1.0900.
A 50% mean reversion aligns with the trendline resistance near 1.0790. If bears commit, then we could see a move to test the depths of the 1.07s as illustrated above.
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