Market Overview: EURUSD Forex The bulls hope that the market is simply forming a 2-legged EURUSD pullback and want a resumption of the bull leg after the pullback phase. The bears want a reversal from around the upper third of the large trading range from a double top bear flag (Dec 28 and Aug 23) […]
Monthly EURUSD Buy Vacuum
Market Overview: EURUSD Forex The market formed a monthly EURUSD buy vacuum test of the trading range high. The bulls need to create a follow-through bull bar in September following the breakout above the triangle to increase the odds of a breakout above the July high. The bears want a reversal from a double top […]
Weekly EURUSD Follow-through
Market Overview: EURUSD Forex The market formed a weekly EURUSD follow-through bull bar breaking above the December high. The bulls want a strong retest of the July high and a strong breakout with follow-through buying. The problem with the bear’s case is that the move up since the June low is strong with limited selling […]
Weekly EURUSD Breakout
Market Overview: EURUSD Forex The market formed a weekly EURUSD breakout above the triangle. The bulls need to create more follow-through bull bars following this week’s breakout to increase the odds of testing the July 18, 2023, high. The bears want a reversal from a large wedge bear flag (Mar 8, Jun 4, and Aug […]
No Weekly EURUSD Breakout
Market Overview: EURUSD Forex So far, there is no weekly EURUSD breakout above the triangle pattern. The bulls hope this week was a pullback and want the market to break out above the triangle again. The bears want a reversal from around the top of the triangle pattern and the bear trend line to act […]
Monthly EURUSD Tight Trading Range
Market Overview: EURUSD Forex The market formed a monthly EURUSD tight trading range with candlesticks that are overlapping with alternating bull and bear bodies. The bulls hope to get another leg up breaking above the triangle to retest the December 28 high. The bears hope that the 20-month EMA and the bear trend line will act as […]
Weekly EURUSD Pullback
Market Overview: EURUSD Forex The market formed a weekly EURUSD pullback, testing near the 2-week EMA. The bears need to create follow-through selling next week (preferably closing below the 20-week EMA) to increase the odds of a deep pullback. The bulls want at least a small second leg sideways to up to retest the July […]
EURUSD Bear Doji
Market Overview: EURUSD Forex The weekly candlestick was a EURUSD bear doji testing the triangle top. The bears want a reversal from a wedge bear flag from around the top of the triangle pattern. If there is a pullback, the bulls want at least a small second leg sideways to up to retest the current […]
Weekly EURUSD Follow-through buying
Market Overview: EURUSD Forex The market formed a weekly EURUSD follow-through buying trading above the 20-week EMA. The bulls need to create a breakout above the June high and the triangle with follow-through buying to increase the odds of a retest of the trading range high (Dec 28). The bears want a reversal from a […]
Weekly EURUSD Wedge
Market Overview: EURUSD Forex The market formed a weekly EURUSD wedge bull flag (Feb 14, Apr 16, and Jun 26). The bulls need to create follow-through buying next week (even if it is only a bull doji). The bears see the current move simply as a pullback forming a lower high and want another leg […]
