EUR/USD Price Analysis: Bulls eye a break of receent bull cycle highs

• EUR/USD bulls refuse to retreat and eye higher highs. 
• Bears need to step in at this juncture or 1.1100 will be calling.

EUR/USD has rallied and the focus is on the upside while the US Dollar caves in to test critical support. The following illustrates the market structure across the daily and 4-hour time frames. 

EUR/USD daily charts

 

The daily charts are showing that the price is recovering from the 1.0840s in a strong surge to the upside towards an imbalance near the recent highs. the price is on the front side of the bullish trend, keeping the bias bullish. A break of the 1.1012, 1.1050s and 1.1095 opens risk for higher for longer. 

EUR/USD H4 chart

Zooming into the 4-hour chart, the imbalance can be seen and it leaves the highs vulnerable to a test. Bears will need to get below 1.0850 for prospects of a downside continuation.