Al Brooks | Jun 14, 2021 09:43AM ET
EUR/USD is having a small bull day so far today. The double bottom bull flag since the June 4 low has seen a 3-week selloff. It's still a pullback from the rally that began on May 13. It's also in a wedge bull flag as well. Bulls want a bull bar today to increase chances of a couple legs up over the next couple weeks.
On the other hand, bears want a bear bar today to increase chances of a break below the May 13 low and test of the bottom of the 2-month trading range from the May 13 or May 5 low. While in a trading range, reversals are always more likely than successful breakouts. Even if bears get a break below the May 5 low, a reversal up will be more likely than a measured move down.
h2 Overnight EUR/USD forex trading on 5-minute chart/h2
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