Market Overview

EUR/USD: Bulls Likely to Get Second Leg Up

  EUR/USD +0.29% Add to/Remove from Watchlist Add to Watchlist Add Position

Position added successfully to:

Please name your holdings portfolio Type: BUY SELL Date:   Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission:   Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close

EUR/USD Daily Chart

  • The EUR/USD formed a 6-bar micro channel up to March 23rd. The odds are that the bulls will get at least a small 2nd leg up.
  • This means the bears need at least a micro double top before forming a credible sell.
  • The bears want the rally up to March 23rd to form a 2nd leg trap. This would trap the bulls into buying too high in a trading range. Next, the bears want the market to reverse down and test the March 15th low.
  • The market is in a trading range. The bulls want the trend resumption above the February high, and the bears want a successful Lower high major trend reversal. The market will likely go sideways for some time and disappoint both the bulls and the bears.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Become a Millionaire by Trading Crypto!