This pair has had a decent bullish momentum as of lately; active long interest might come across as greed driven. Seemingly, the EUR bulls are looking to square off exposure, translating into an oversupplied market at least for a short-term correctional formation. The most prevalent scenarios are highlighted in the chart: bullish continuation in green and bearish reversal in red. A better understanding of the market dynamics will present itself as the EURUSD price action develops throughout the upcoming weeks. Staying tuned.
