- EUR/USD bears are trying hard to get a successful double top with the March 10 and March 17 highs. They hope this selloff will reach the March low and get a bear breakout to test the 2020 price levels.
- While the market is not clearly always in short, the bears are getting close with the number of bear bars they have gotten in the past 7 bars. The bears still need more, though.
- Bulls are hopeful that they can soon disappoint the bears and get a rally today or tomorrow.
- Remember, the market is in the middle of a tight trading range, so the probability is close to 50%. Otherwise, the market would be favoring a direction.
- Bulls hope this is another higher low after the March 14 higher low. They want these higher lows to be the start of an early bull trend and the low for the rest of the year that will rally back up to the February highs.
- The market had a bear breakout below a bear channel in early March. The odds were it would fail so that traders would expect a test of the top of the large bear channel. The market can get there by going sideways or getting an upside breakout of the March bear flag.
EUR/USD: Bears Trying To Reach March 14 Higher Low
