As per the North American analysis, the euro is on the verge of testing critical resistances across the time frames and the following illustrates this n the hourly and daily charts. There will be prospects of a significant breakout of the bulls can take on the bearish commitments but failures will likely lead to a downside extension for the days ahead.
EUR/USD H1 chart, prior analysis
EUR/USD is on the verge of a break of horizontal resistance.
The price is attempting to break higher, but as explained in the prior analysis, there is plenty of resistance ahead:
EUR/USD continues to creep higher in a correction on the daily charts within the bearish cycle and below trendline resistance and is about to cross the 38.2% ratio.
A 50% mean reversion will bring the price into close proximity to the resistance and failures will bring the lows back into focus with prospects of a downside extension of the broader bear trend.