- The EUR/USD is stalling at the May 31st low.
- The bears try hard to trap the bulls and get the downside breakout below the May 31st low.
- The bulls are trying to develop more buying pressure at important support, the May 31st low.
- The bears have done an excellent job forming a tight bear channel. It is becoming climactic, increasing a pullback to the moving average.
- The bulls hope to get a reversal soon; however, they do not have a strong buy signal bar. Without a strong buy signal bar, most bulls will wait for a strong upside breakout to buy.
EUR/USD Likely to Trade Sideways Near May 31 Low
