- The EUR/USD is breaking out above the moving average for the first time in several days. This is good for the bulls, but they need a strong close here.
- Bears will sell above the moving average, betting on sellers above and sideways. They want to prevent the bulls from getting a strong close here.
- The market is also testing the midpoint of the July—August trading range so that some bulls will take profits here.
- Bulls need strong consecutive bull closes to convince traders of higher prices; without it, the market may continue sideways.
- Overall, the market will probably go sideways over the next couple of weeks, and the bulls will test the August highs soon.
EUR/USD: Bull Breakout Above Moving Average
