- The EUR/USD is forming several overlapping bars following a bear breakout of a triangle (blue dashed lines).
- The triangle will probably act as a final flag, meaning the market will likely test the apex (middle) of the triangle soon.
- The Bears have done well over the past few weeks. However, the selloff looks more like a bear leg in what will become a trading range. This means the bulls will probably get a rally lasting a couple of legs soon.
- Overall, traders should expect the bears to become disappointed and for the market to reach the triangle’s apex soon.
EUR/USD: Bulls Look to Test Triangle Apex
