Market Overview: EURUSD Forex The EURUSD Forex formed a wedge and micro wedge on the weekly chart. However, the bears are still weak and need to do more to convince traders of a pullback or a reversal. The bulls want any pullback to be sideways and not deep. If the pullback is weak and sideways, […]
EURUSD Small Bull Doji, Wedge Top
Market Overview: EURUSD Forex The EURUSD Forex was a small bull doji on the weekly chart. Bulls want an endless small pullback higher. If there is a pullback, they want the pullback to be sideways and shallow. The bears want a reversal lower from a wedge top. EURUSD Forex market The Weekly EURUSD chart The Daily EURUSD […]
EURUSD Wedge Top but Tight Bull Channel
Market Overview: EURUSD Forex EURUSD wedge top formed but the rally is in a tight bull channel. The bear bars are weak and had no follow-through selling. Bears need to do more to convince traders that a pullback/reversal is imminent. Odds slightly favor EURUSD to trade at least a little higher. EURUSD Forex market The […]
EURUSD Weak Bear Bar, Need Follow-through
Market Overview: EURUSD Forex The EURUSD Forex was a EURUSD weak bear bar on the weekly chart. The bears want this to be the start of a two-legged sideways-to-down pullback. They will need to create follow-through selling next week. The bulls want any pullback to be sideways and not deep. EURUSD Forex market The Weekly EURUSD chart […]
EURUSD Bull Follow-through Bar
Market Overview: EURUSD Forex The EURUSD Forex December candlestick was a bull follow-through bar following the breakout above the October inside bull bar. Odds slightly favor the EURUSD to trade at least a little higher towards the 20-month exponential moving average. The move up is strong enough for traders to expect at least a second […]
EURUSD Weak Reversal Bar, Wedge Top
Market Overview: EURUSD Forex The EURUSD Forex market formed a EURUSD weak reversal bar as the weekly candlestick has a long tail above but a bull body. Bears want a pullback from the wedge top. They will need to create follow-through selling to increase the odds of a pullback. Bulls want the pullback to form a higher […]
EURUSD Doji Bar at Bear Trend Line
Market Overview: EURUSD Forex The EURUSD Forex traded higher but closed as a EURUSD doji bar at bear trend line. The bulls did not get follow-through buying. The bull needs to break far above the major bear trend line to increase the odds that the selloff has ended. The parabolic wedge increases the odds that we will […]
EURUSD Strong Bull Breakout above Inside Bar
Market Overview: EURUSD Forex The EURUSD Forex November candlestick was a EURUSD strong bull breakout above an inside bar. It closed back above the 7-year trading range low. The bulls need to break far above the major bear trend line and 20-month exponential moving average to convince traders that a reversal higher is underway. The […]
EURUSD Pullback but Reversed into Bull Bar
Market Overview: EURUSD Forex EURUSD Forex pullback slightly on the weekly chart but reversed into bull bar. The bears failed to get follow-through selling. The move-up is in a tight bull channel. That means strong bulls. Odds continue to favor the EURUSD to trade at least a little higher. Because of the strong move up, the […]
EURUSD No Bull Follow-through Bar
Market Overview: EURUSD Forex EURUSD no bull follow-through bar on the weekly chart. Bulls hope that this is simply a pullback and want at least a small second leg sideways to up after a pullback. Bears want a reversal lower from a failed breakout above a wedge bear flag. They will need to create strong […]
