- The EUR/USD is finding support near the July 6th low.
- While the channel down is tight, traders are buying below bars which is a sign of hesitation by the bears.
- The rally up from July 6th was strong. Therefore it is a magnet for the market to test. Traders will want to see if the bulls how determined the bulls are to buy again at that price level.
- More likely, if the market falls below the July 6th low, it will continue to go sideways.
- Overall, traders should expect a bounce lasting a couple of weeks, although the rally does not have to go up that far and will probably go mostly sideways.
EUR/USD: Support Lies Near July 6 Low
