- The EUR/USD continues to go sideways in a tight trading range just above the moving average.
- The bears are breaking the bull trend line by going sideways instead of getting a downside breakout. The market may continue sideways in a tight trading range until it reaches the moving average below.
- The market has been away from the moving average for over 25 bars. This climactic behavior will make it difficult for the market to get a successful breakout to a new high without reaching the moving average.
- If the bulls break above the Dec. 15 high, the market will likely fail at a new high and reverse back down to the moving average.
- Overall, traders should expect the market to continue going sideways to the moving average.
EUR/USD Trades Above Moving Average
