EUR/USD -0.06% Add to/Remove from Watchlist Add to Watchlist Add Position
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EUR/USD Daily Chart
- The EUR/USD yesterday created a strong bull trend bar, closing above the prior bar’s high.
- This is a sign of strength by the bulls and will increase the odds of bears buying back shorts after the sell climax test of the May 31st low.
- The bulls see the September 14 bear breakout as an exhaustion bar and will look to buy betting on a test of the high of the bear breakout bar.
- The bears are hopeful that the recent two bull bars are a pullback that will lead to a breakout below the May 31st low.
- The bulls have a credible buy above yesterday’s high, which will increase the odds of a couple of legs sideways to up and a test of the moving average.