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EUR/USD: Market Will Likely Disappoint Bears Before Day Closes

Published 09/21/2022, 09:29 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
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USD/EUR
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EUR/USD Daily Chart

  • EUR/USD bears are getting their second leg down testing the September low.
  • Bulls want today to reverse up on the FOMC report and create a second entry buy.
  • Bulls see today as a higher lower major trend reversal and a truncated wedge bottom with August 23, and September 6.
  • As strong as the bears look here, the market is in a trading range and the bulls are getting a lot of consecutive bull trend bars which increases the odds of a reversal up.
  • Bears are hopeful that they can get a breakout below the September 6 low and measured move down, however the odds are against it.
  • Ultimately, the EUR/USD will likely rally soon and reach the August high.
  • The market will probably disappoint bears before the day closes.

Latest comments

Euro will still rebound. It is just kneejerk reaction after FOMC.
Guess the only one disappointed is you now ,, endless guesswork
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