- 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.
EUR/USD Bears Look for Breakout Below Moving Average
