- The EUR/USD formed a High one-buy signal bar yesterday. It follows a two-bar selloff, which will lower the probability of the buy.
- The rally up to March 23 is strong enough to lead to a second leg up. This means bulls will buy above yesterday’s High one-buy signal bar and likely scale in lower, betting on a second leg up.
- The bears see March 23 as a lower-high significant trend reversal. However, too many bull bars are up to the March 23 high. This will lower the probability of the bears selling below March 23.
- Overall, the market is probably going above the March 23 high and will begin to go sideways and continue the trading range price action.
EUR/USD: Lower High MTR, Too Many Bull Bars
