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EUR/USD Testing 2017 Low

Published 08/10/2022, 09:31 AM
Updated 07/09/2023, 06:31 AM

EUR/USD Daily Chart

  • The EUR/USD broke to the upside after the 5:35 AM PT report. At the moment, it looks like the current bull breakout of the triangle will be successful.
  • Bulls have reached the 2017 low, and the market is currently testing the May to June trading range lows.
  • Traders will pay close attention to see if the bulls can close the current bar on its high. Next, can the bulls get a strong follow-through bar, increasing the odds of higher prices?
  • Overall, this is good for the bulls and increases the odds of higher prices and a test of the July high and the June 27 high. Both of these targets are in the middle of the May to June trading range, another magnet for the bulls.

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