Blue line- short-term resistance
EURUSD is trading around 0.99. So far price action today has been neutral with low volatility and no clear direction. Medium- and short-term trend remain bearish with no sign of a reversal. Price continues making lower lows and lower highs in the 4 hour chart. Price is below the resistance trend line and as long as this is the case, short-term trend will remain bearish. This resistance is now at 0.9970. A break above this level will give bulls hopes for a bigger bounce. Until then, price remains vulnerable to a move towards 0.9850-0.98.
