The EURUSD Bears vs Bulls are always after each other on chat. The EU bears will have their day, it's just not today. The over-all bias for the EU is still down/bearish. However, there are 2 ways to look at this macro view (at least that's how I see it).
1. The EU tried, tested and failed to get below support around 1.0460ish. If this view is correct, we will eventually grind our way up to the 1.1600 area (again). - This is my belief
2. The EU was due for a consolidation after the drop that began in Oct of last year. After a consolidation (maybe as high as 1.0800), the EU will finally take out 1.0460 and continue lower. - The EU Bears Cheer!
Conclusion - either way you slice it, the medium term trend is to the upside. The EU bears need to be patient if they believe in option #2.
EU Bears and Bulls can all agree that tacos are amazing!
1. The EU tried, tested and failed to get below support around 1.0460ish. If this view is correct, we will eventually grind our way up to the 1.1600 area (again). - This is my belief
2. The EU was due for a consolidation after the drop that began in Oct of last year. After a consolidation (maybe as high as 1.0800), the EU will finally take out 1.0460 and continue lower. - The EU Bears Cheer!
Conclusion - either way you slice it, the medium term trend is to the upside. The EU bears need to be patient if they believe in option #2.
EU Bears and Bulls can all agree that tacos are amazing!
