EUR/USD is starting out the week trapped between support and resistance but leans with a bearish bias within a strong bearish trend. The following illustrates the market structure from both a long and shorter-term perspective. {chart} As illustrated, the price is correcting the last bearish impulse and bears are moving in. {chart} EUR/USD has broken below trendline support but has since formed a sideways channel following a restest of the counter trendline. The bears will need to break support at which point, there will be prospects of a downside continuation and fresh cycle lows. (full story)