I often get questions like: “Greg, Is the EURUSD in a bull trend or a bear trend? If you look at the EURUSD from January 2011 low to the high, the pair is in a bull trend. If you look at the move from the high in May on the daily chart we are below the midpoint of that move, so the market is still in a bearish trend”. I don’t look at the market that way, and think that you will go crazy trying to define the bias from a single chart this way – especially when you are focused on a daily chart where a correction of 800 pips (from Jan) just comes down to the 38.2% retracement. No matter who you are, that move ... (full story)