- The EUR/USD is testing above the September 29th Major lower high. The market is likely converting into a trading range and will begin to go sideways for the next couple of weeks.
- Overall, traders should expect sideways trading and the bear channel to evolve into a trading range on the daily chart.
- Because the weekly chart is in a bear breakout on the weekly chart, the bears will likely get a second leg down. This means that the upside is probably limited on the daily chart.