We usually hear about bears and bulls when technical analysis of global markets, so who are bears and bulls?
Bears: They are the traders who want to sell and seek a fall in global markets, or a pair of currencies, oil, or any other commodity. In other words, bears are the ones who drive prices down and here the term bearish market is used for the bear market.
Bulls: They are traders who want to buy and seek to rise in global markets, or a pair of currencies, oil, or any other commodity.
In other words, bulls are the ones who drive prices up and here the term bullish market is called and global markets are considered a battleground between bears and bulls.
If the bears outperformed, the result was a drop in prices, and if the bulls outperformed the result was a price increase.
When doing technical analysis for any currency pair, we note the word Bullish, meaning buying the currency, indicating that the currency is rising, meaning that the bulls are in control.
We also note the word Bearish, indicating that the currency is bearish, meaning that the bears are now dominating the markets.
As it is said, "In order for the bull to continue to dominate the markets, it needs good news every day, while the bear only eats from time to time."