Bulls failed to get a strong entry bar yesterday following Monday’s weak buy signal bar.
Bears want a continued selloff but will likely have difficulty breaking far below the June 23 low.
The past five trading days look more like a leg in a trading range than a strong trend.
Bears see the market as an overall bear channel, and they are correcting it. However, the bears’ problem is that the market is going sideways.
Overall, the EUR/USD will probably bounce soon and test back into the middle of the July—August trading range. Part of the reason I think the market will bounce here is that it will likely have difficulty getting far below the 1.000 big round number.