- The EUR/USD formed a strong follow-through bar yesterday after last Friday’s strong bull close.
- The market exceeded the June 22 high early this morning and reversed down.
- At the moment, today’s bar is a bear bar on its low. Even if the bears can get a bear bar closing in it low, there are probably buyers below scaling in lower. This means the downside over the next few days is probably limited.
- The bulls see the recent three consecutive bull bars as being strong enough for a second leg and a test of the May high.
EUR/USD: Strong Follow-Through Bar
