The EURUSD Forex stalled around the April low which was the last breakout point. The bears are now getting the second leg sideways to down that they were expecting. The bulls hope the sell-off this week was simply a sell vacuum test of the low. Odds slightly favor sideways to down next week. Bears want a follow-through bear bar while the bulls want a bull bar even though the EURUSD may trade lower first.
Emini sell vacuum retest of 5/20 low
The S&P 500 Emini futures stalled around the Feb/March low and the bulls failed to get follow-through buying. The bears got the second leg sideways to down they were expecting. Odds favor at least slightly lower prices next week. As strong as the sell-off is, it could simply be a sell vacuum test of the 5 weeks trading range low. If there is a breakout, odds slightly favor a downside breakout more.
Emini possible failed breakout below trading range?
The S&P 500 Emini futures May candlestick closed as a doji bar. The bears failed to get a follow-through bear bar. Bulls see the move down from the January high as a 2 legged pullback and a wedge bull flag (January 24, February 24 and May 20). Bulls will need to close June as a strong bull bar near the high to increase the odds of a failed breakout below the trading range.
EURUSD bull reversal bar and major trend reversal
The EURUSD Forex closed as a bull reversal bar on the monthly chart after testing the 2017 low. The bulls want a reversal higher from a lower low major trend reversal bar and a double bottom with the 2017 low.
However, the sell-off since June 2021 has been in a tight bear channel. Odds are, there should be at least a small second leg sideways to down after the pullback because v-bottoms are not common.
EURUSD consecutive bull bars on weekly chart
The EURUSD Forex is reversing up from a trend channel line overshoot and a parabolic wedge. The bulls got consecutive bull bars this week. Odds are a 2 legged sideways to up pullback has begun.
The sell-off since March was very strong. Traders expect at least a small second leg sideways to down after the pullback is over.
Emini strong bull reversal bar closing at high
The S&P 500 Emini futures traded higher closing above the 9-month trading range low (February low). The 7 consecutive bear bars were unsustainable and were a form of a sell climax.
Odds slightly favor a 2 legged sideways to up pullback beginning. However, because of the strong selling since March, traders expect at least a small second leg sideways to down after the pullback is over.
EURUSD Forex failed breakout from final flag
The EURUSD Forex pulled back after testing the 2017 low. The 10-day tight trading range from the end of April potentially is the final flag of the trend. Bulls want at least a 2 legged sideways to up pullback following a parabolic wedge (August 20, November 24, May 13) and a trend channel line overshoot.
likely be minor and traders expect at least a small second leg sideways to down after the pullback.
S&P500 Emini bears follow through on weekly chart
The bears got a bear follow-through bar on the S&P 500 Emini futures weekly chart. There are 7 consecutive bear bars on the weekly chart, something that has not happened since February 2001. It increases the odds of a bull bar within the next 1- to 3-weeks.
pullback (bounce) would be minor.
Emini weak breakout bar below 9-month trading range
The S&P 500 Emini futures broke below the 9-month trading range this week but closed as a reversal bar with a bear body and a long tail below. The selling has been climactic. The bulls hope that a 2 legged sideways to up pullback will begin soon. The bears will need to create another bear bar to confirm the breakout below the trading range.
EURUSD bear breakout test 2017 low
The EURUSD Forex broke below the tight trading range and tested the 2017 low. Bears want a strong break below 2017 followed by a measured move based on the height of the 7-year trading range. Bulls hope for a 2 legged sideways to up pullback to begin soon from a parabolic wedge and a trend channel line overshoot.
