EURUSD close to trendline resistranceEUR/USDOANDA:EURUSDRyan_lopesMarket Structure The overall structure is still bearish because: The market continues to make lower highs. The descending trendline has not been broken. The latest rally is still a retracement inside the larger downtrend. Strong Bearish Bearish engulfing Evening Star Shooting Star Long upper wick These favor rejection. Strong Bullish Bullish Marubozu Bullish Engulfing Large close above trendline These favor breakout. USD Side The biggest driver remains the Federal Reserve. Bullish USD factors: Higher interest rates than Europe Strong US labor market Sticky inflation Safe-haven demand during uncertainty Bearish USD factors: Inflation cooling Weak economic data Expectations of future Fed easing Falling Treasury yields