EUR/USD bulls could be about to throw in the towel.The bears eye a break of the consolidation below 1.0220. EUR/USD is stalling on the bid which gives rise to the prospects of the capitulation of the bulls in speculating that the 1.0500s could be the last stop in this bull cycle from a technical perspective across the charts. The following is an analysis across multiple time frames from a bearish perspective:
EUR/USD H1 chart
The price is holding the supporting trendline but it could be climaxing in a steep rally.This could give rise to a break of structures in the sessions ahead.
EUR/USD H4 chart
The move through the highs of the sideways consolidation could be a sweep of liquidity. If this is the case, the focus will be on the downside for next week:
EUR/USD daily chart
The bears eye a break of the consolidation below 1.0220. However, a move beyond 1.0550 will leave the bulls in the runnings for higher highs for the end of the year as per the weekly breakout of trend:
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