- The EUR/USD is trying to form a wedge-bottom bull flag just above the June 15th Low.
- The bulls want the trend resumption up after the rally up to June 22nd.
- The bulls want signs of strength today. One sign of strength would be today closing on its high, forming a strong buy signal bar. The bears will try to prevent this by creating a weak buy signal bar close.
- The bears are hopeful that any rally that follows today will be weak and lead to a trading range instead of a strong bull rally.
- Overall, traders will pay close attention to today’s close to see how strong of a buy signal bar the bulls can make. Next, traders will pay attention to tomorrow’s entry bar if the bulls create a decent buy signal bar.
EUR/USD Bulls Want Wedge Bottom
