It's a magnificent battle. The last 4 trading days bulls have managed to briefly push price above the high from May, only to be beaten back and see the day closing just a few pips below. From a technical perspective there are a few signs that the bulls are wearing out, including bearish divergence and a yet to be confirmed double top (see chart)
For now the uptrend remains intact, but to see it continue we need a daily close above 0.8780. Do the bulls have enough dry powder left to accomplish that?
For now the uptrend remains intact, but to see it continue we need a daily close above 0.8780. Do the bulls have enough dry powder left to accomplish that?
