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EUR/USD Bears Look for Breakout Below Moving Average

Published 04/28/2023, 09:23 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
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EUR/USD-Daily Chart

  • The EUR/USD is in a tight bull channel. However, it is collecting much strong bear closes.
  • The odds are that the channel up from the May low is converting into a trading range.
  • The bears need to get closes below the moving average to begin to convince traders that they are taking control.
  • Overall, the market will probably begin to test prior higher lows from the channel up that began on March 24th and convert into a trading range. Traders should expect more sideways trading.

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