- The EUR/USD is forming a triangle, a breakout mode pattern at the moving average.
- The probability is close to 50% for both the bulls and the bears.
- Because the market is holding under the moving average, the bears have a slight probability advantage over the bulls. The advantage the bears have is not much. Perhaps 3% -4% better odds than the bulls getting an upside breakout.
- Tight trading ranges are bad entry locations, with stops betting on a successful breakout. This means that most traders should consider waiting to see what the breakout of the tight trading range looks like before placing a trade.
EUR/USD in Breakout Mode Near Moving Average
