Market Overview: EURUSD Forex The weekly chart was a EURUSD consecutive closes below the 20-week EMA, testing the bull trend line. While the odds continue to favor the market to trade at least a little lower, a minor pullback can begin within a few weeks. Odds favor a second leg sideways to down after a […]
EURUSD Close below the 20-Week EMA
Market Overview: EURUSD Forex The EURUSD close below the 20-week EMA on the weekly chart. The bears need to create follow-through selling next week to increase the odds of lower prices. The bulls hope that the 20-week exponential moving average will act as support and want at least a small second leg sideways to up to retest […]
EURUSD Wedge Top, PB
Market Overview: EURUSD Forex The bears want a reversal down from a EURUSD Wedge Top and a failed breakout above the April high. They need to continue creating consecutive bear bars, breaking far below the 20-week exponential moving average to increase the odds of a reversal down. The bulls want the 20-week exponential moving average […]
EURUSD Broad Bull Channel
Market Overview: EURUSD Forex The last 7 candlesticks (monthly chart) have a lot of overlapping ranges but are sloping slightly up – the market is in a EURUSD broad bull channel following a bull spike from November. The bulls want a strong breakout above the April high followed by a few months of sideways to […]
EURUSD Failed Breakout or Pullback?
Market Overview: EURUSD Forex Is the weekly chart forming a EURUSD failed breakout or a pullback? The bulls hope the last two weeks were simply a pullback and want at least a small retest of the prior leg extreme (Jul 18). The bears want a reversal down from a wedge top, a trend channel line overshoot and […]
EURUSD Failed Breakout?
Market Overview: EURUSD Forex The market traded higher but reversed to close as a bear bar forming a possible EURUSD Failed Breakout. The bears will need to create follow-through selling to increase the odds of a deeper pullback. The bulls hope that the move down is simply a breakout test of the April high (breakout […]
EURUSD Bull Breakout Above April High
Market Overview: EURUSD Forex The weekly chart was a EURUSD Bull Breakout above the April high. The bulls want a new leg up lasting many weeks like the one which started in November 2022. The bears want a failed breakout above the April high and a reversal from a trend channel line overshoot. EURUSD Forex market The […]
EURUSD Weak PB to 20-Week EMA
Market Overview: EURUSD Forex The EURUSD Forex formed a weak PB (Pullback) to the 20-week exponential moving average. The bulls see the pullback as forming a micro wedge. This week’s bull bar closing near its high is a buy signal bar for next week. The bears hope that the recent rally was simply a deep […]
EURUSD No Follow-through Selling
Market Overview: EURUSD Forex There was no follow-through selling on the weekly EURUSD Forex chart. The bulls want another leg up, completing the wedge pattern. The bears failed to create follow-through selling again in June. They are not as strong as they hope to be. If the current pullback remains weak (with overlapping bars, doji(s) […]
EURUSD Pullback or LH MTR?
Market Overview: EURUSD Forex The EURUSD pullback on the weekly chart following last week’s close above the 20-week exponential moving average. The bulls did not get a follow-through buying. They hope that this week is simply a pullback and want another leg higher after the pullback. The bears want a reversal down from a lower […]
