EUR/USD failed to close under the 1.0972 Fibo four times in recent days

A bear trap is set when a market breaks below a level but quickly reverses

Failed to close under 1.0972 Fibo on Tues, Wed, Thu last week and this Mon

1.0972 Fibo is a 50% retrace of the 1.0806 to 1.1137 March rise

A bear trap is usually is a prelude to decent gains

Bears should also beware fourteen-day momentum has been positive recently

Stand aside for now. EUR/USD Trader TGM2334 Previous update nL2N2VV0EP