EUR/USD Price Analysis: Bears in control, but weekly M-formation is menacing By ross_burland EURUSD Technical Analysis
The M-formation on the weekly chart contradicts the bearish bias. is bobbing along the bottom of the bear cycle range and likely has more to go to the downside in order to mitigate the imbalance left behind from the March 2020 rally down in the 106 areas. The following illustrates this from a daily and 4-hour perspective, albeit the caveat comes in the weekly chart:The bears are fully in control at this juncture in a very strong downtrend with very few corrective bars this month so far.
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