EUR/USD
+0.60%
- The EUR/USD is trying to create a double bottom with February 27th and test the March 7th high.
- Bulls want to get above the March 7th high and end the argument of a bear trend.
- Next, the bull wants to get a strong bull breakout above the neckline (March 7th) of the double bottom for a measured move up testing the 1.0800 price level.
- Bears should not have allowed yesterday to close on its high and form a double bottom. At the moment, it looks like many bears got out above yesterday’s high, anticipating a test of the March 7th high.
- Overall, bulls want a strong follow-through bar today and a test of the March 7th high. The bears will try their best to put a tail on today’s bar and disappoint the bulls.
