- Bulls got a bull close completely above the moving average. This is good for the bulls and a sign that the market is transitioning into a trading range.
- Bulls want an upside breakout above the February high and a resumption of the bull trend.
- Bears want the market to form a lower high major trend reversal and form 2nd leg down from the February selloff.
- More likely, the market is evolving into a trading range and will go sideways for several bars as the bulls fight for trend resumption and bears fight for trend reversal (major trend reversal).
- Overall, the bulls have three consecutive bull bars and will probably get at least a small 2nd leg up. This will probably limit the downside for the next couple of days.
EUR/USD: Sideways Action Most Likely for Now
