#EURUSD @ 1.09868 is on the verge of a breakout.
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- EUR/USD is on the verge of a breakout.
- EUR/USD bears on the backside of the bullish trend.
EUR/USD has moved to the backside of the bullish trend and below 1.0990 which is now acting as a resistance structure.
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.
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.
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