EUR/USD: Bulls Looking for Successful Breakout of February Low
EUR/USD Daily Chart
- The EURUSD now has three consecutive strong bull closes. The bulls want a successful breakout above the February high and for the market to rally for some kind of measured move up of the two-month-long trading range.
- More likely, the bulls will be disappointed soon, and the market will fail to break out far above the February high.
- The bears want the market to form a higher high major trend reversal. However, since the market has three consecutive bull bars, the bears need to develop more selling pressure for traders to be convinced the bears have taken control.