The EUR/USD pair has seen a lot of action in the last few days, with bears and bulls both making their presence felt. The US Dollar has come under pressure despite a slew of inflationary data and the EUR/USD bears have been out in force.
The bears have managed to break through numerous supports, casting a bearish shadow in its tracks. This has left scope for a downside continuation should the 1.0650s give out in the forthcoming days. Bulls have come up for air near 1.0700 to a US session high of 1.0697 to meet resistance, both horizontal and dynamic.
However, a late session surge from the bears is underway and that could leave prospects of a bearish close for another day and the downside bias underpinned. There have been three days of shorts, old and new, with the latest coming in the last hours on Wall Street. The bears are now eyeing the 1.0650s for the ending sessions of the week.
A positive close on Thursday will give rise to the prospects of a deeper correction of the recent bearish run. But if the bears manage to keep the pressure up, a big squeeze could come into play to end the week and to balance the books.
The EUR/USD pair has been very volatile in the last few days, with both bulls and bears making their presence felt. The US Dollar has come under pressure despite a slew of inflationary data and the EUR/USD bears have been out in force.
The bears have managed to break through numerous supports, casting a bearish shadow in its tracks. This has left scope for a downside continuation should the 1.0650s give out in the forthcoming days. Bulls have come up for air near 1.0700 to a US session high of 1.0697 to meet resistance, both horizontal and dynamic.
However, a late session surge from the bears is underway and that could leave prospects of a bearish close for another day and the downside bias underpinned. There have been three days of shorts, old and new, with the latest coming in the last hours on Wall Street. The bears are now eyeing the 1.0650s for the ending sessions of the week.
A positive close on Thursday will give rise to the prospects of a deeper correction of the recent bearish run. But if the bears manage to keep the pressure up, a big squeeze could come into play to end the week and to balance the books. This could be a decisive moment for the EUR/USD pair as the bulls and bears battle it out.
The EUR/USD pair has seen a lot of action in the last few days and it is clear that the bears are staying the course as bullish attempts are faded at resistance. The bears are eyeing the 1.0650s for the ending sessions of the week, and a positive close on Thursday could give rise to the prospects of a deeper correction of the recent bearish run.
However, a late session surge from the bears is underway and that could leave prospects of a bearish close for another day and the downside bias underpinned. There have been three days of shorts, old and new, with the latest coming in the last hours on Wall Street.
The EUR/USD pair is in a very volatile state and it is unclear which direction the market will take. The bears could take the upper hand and push the market lower, or the bulls could come out on top and push the market higher. The outcome is uncertain, and only time will tell which way the market will go.
The EUR/USD bears have been out in force in the last few days, and they are staying the course as bullish attempts are faded at resistance. The bears are eyeing the 1.0650s for the ending sessions of the week, and a positive close on Thursday could give rise to the prospects of a deeper correction of the recent bearish run.
However, a late session surge from the bears is underway and that could leave prospects of a bearish close for another day and the downside bias underpinned. There have been three days of shorts, old and new, with the latest coming in the last hours on Wall Street.
The EUR/USD pair is in a very volatile state and it is unclear which direction the market will take. The bears could take the upper hand and push the market lower, or the bulls could come out on top and push the market higher. The outcome is uncertain, and only time will tell which way the market will go.
Whatever the outcome, it is clear that the EUR/USD bears are staying the course as bullish attempts are faded at resistance. The bears are eyeing the 1.0650s for the ending sessions of the week, and a positive close on Thursday could give rise to the prospects of a deeper correction of the recent bearish run.
The EUR/USD pair is in a state of flux, and it is unclear which direction the market will take. The bears and bulls are battling it out, and only time will tell which way the market will go. Whatever the outcome, it is clear that the EUR/USD bears are staying the course as bullish attempts are faded at resistance. The bears are eyeing the 1.0650s for the ending sessions of the week, and a positive close on Thursday could give rise to the prospects of a deeper correction of the recent bearish run.
