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EUR/USD Bulls Look for Breakout

Published 03/21/2023, 09:24 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
0.96%

EUR/USD Daily Chart

  • The EUR/USD bulls are beginning to collect bull bars over the past four trading days.
  • The bears failed to get a downside breakout on March 15th.
  • At the moment, the market is probably Always In Long and likely going higher. Traders should be prepared for a possible upside breakout of the March 15th high.
  • The bulls want a measured move up of the month-long trading range, and the bears want a failed breakout.
  • Overall, the rally is strong enough that the first reversal up will probably fail.

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