EUR/USD: Minor Pullback Likely

EUR/USD
+0.05%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

EUR/USD Daily Chart

• The EUR/USD pair had a strong rally last week. However, it is becoming, which increases the odds of a pullback lasting a few days.
• The risk is getting big for the bulls, so institutions must manage their risk properly. This means they will likely need to reduce risk by taking partial profits. This will increase the odds of a brief pullback.
• The bears know this and will look to sell, betting on a brief pullback. However, they know some bulls will look to buy and pull back from betting on higher prices.
• Overall, the odds favor higher prices. However, the market may have to pull back first before the bulls can get a second leg up following last week’s strong bull bars.

Source