- The EUR/USD closed below the May 31st low and formed a follow-through bar yesterday.
- At the moment, today is another strong bear breakout bar. However, the bears will have to prevent any strong buying pressure for the entire U.S. session if today is going to close on its low.
- More likely, the bears will get disappointed with today’s breakout bar.
- Because the daily chart is always short and in a tight bear channel, traders will sell, taking a chance that the market goes lower. However, those bears will likely be quick to exit if the bulls get a reversal today.
- More likely, the bears will become disappointed over the next few days, and the market will go sideways. The bulls still expect the market to reach the moving average.
EUR/USD Breaks Below May 31 Low
