EUR/USD Reaches Wedge Bottom

EUR/USD
-0.03%

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EUR/USD Daily Chart

• The EUR/USD broke below the moving average and is trying to reach the January 6th low.
• The market has formed a wedge bottom in the past ten days and may have to rally for ten bars and two legs (TBTL).
• The market is likely in a trading range, meaning bulls and bears will probably be disappointed.
• The market will probably fall below the January low at some point soon. However, it must first form a lower high major trend reversal. Even if the bulls managed to get a new high above February, the odds will favor a trading range and more sideways.

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