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EUR/USD: Bulls Want Yesterday’s Breakout to Be Start of Second Leg Up

By Al BrooksCurrenciesDec 02, 2022 09:32AM ET
www.investing.com/analysis/eurusd-bulls-want-yesterdays-breakout-to-be-start-of-second-leg-up-200633064
EUR/USD: Bulls Want Yesterday’s Breakout to Be Start of Second Leg Up
By Al Brooks   |  Dec 02, 2022 09:32AM ET
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EUR/USD Daily Chart
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  • The EUR/USD broke above the November 15 high yesterday and is currently trying to reverse down and has today formed a bear bar closing on its low.
  • Bulls want yesterday’s breakout to be the start of the second leg up that reaches the November 10 and 11 measured move target above (1.069).
  • Bears see a wedge top and want today to be a strong bear reversal bar closing on its low.
  • While the odds favor a second leg up after yesterday’s bull breakout bar, if today is a bear reversal bar closing on its low, some bulls will exit below and wait for a couple of legs down.
  • Overall, traders will pay close attention to today’s close and see if the bears can get a strong bear reversal bar or if the bulls can prevent the bears.
EUR/USD: Bulls Want Yesterday’s Breakout to Be Start of Second Leg Up
 

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EUR/USD: Bulls Want Yesterday’s Breakout to Be Start of Second Leg Up

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Shahzad Hussain Viha
Shahzad Hussain Viha Dec 03, 2022 2:31AM ET
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exlnt sir
 
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