- EUR/USD bulls have a two-legged pullback testing the bottom of the 3-month trading range.
- Bears are trying hard to trap the bulls and keep the gap open from the low of the 3-month trading range.
- Bears want a double top with March 10 and a bear breakout below the March low, and a selloff testing the 2020 price level.
- Bulls see today and Friday as a two-bar pullback, leading to more up.
- Bulls hope that the market will get a bull breakout of a bear flag and lead to a measured move up to 1.1470 price level, which is close to the February high.
- The market may have to test the March 14 high low and form a double bottom higher low major trend reversal. This would give the bulls a more credible bottom.
- Right now, the market is deciding between breaking out above last week’s high or testing the March 14 higher low. The market will likely go sideways for a couple of days since the market is close to 50%.
EUR/USD: Bulls Trying To Breakout From Bear Flag
