Forex Opinion & Analysis

EUR/USD: Expect Disappointment Soon


EUR/USD Daily Chart 

  • The EUR/USD is beginning to form a bottom near the January 6th low.
  • While the bears can argue that the market is in a small pullback bear trend, it is low in a trading range. This means that the risk of a reversal up is real.
  • It is reasonable for bears to consider exiting on a reversal up, such as yesterday’s bull reversal bar (Green Box).
  • Overall, traders will pay close attention to today’s reversal to see its strength. If the bulls can get a strong reversal up, more traders will buy, betting on a second leg up.


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