- The EUR/USD will probably test the April 13th bull bar over the next couple of days.
- Although the April 13th bull close is a possible third leg up and a 2nd leg trap, it was reasonable to buy the close of the bar. Since it was reasonable to buy the April 13th close, the market will probably reach it and allow the bulls out.
- The consecutive bear bars ending on April 17th were good for the bears. However, they failed to break below the moving average. The bears were disappointed with April 18th and used the following bar (April 19th) to exit at the low bear close (April 17th).
- Overall, the market will probably have to reach the April 13th close. However, the selloff down to April 17 is enough to increase the odds that the market is in a Trading range. This means there are probably sellers above the April 14th high.
EUR/USD Set to Test April 13 Bull Bar
