Market Overview: EURUSD Forex The bears got a disappointing EURUSD follow-through selling on the weekly chart. They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. The bulls want a reversal from a higher low major trend reversal, a larger wedge bull flag […]
EURUSD Breakout Below
Market Overview: EURUSD Forex The weekly chart formed a EURUSD breakout below the triangle pattern and the small trading range. The bears need to create follow-through selling next week to increase the odds of a retest of the larger trading range low (October low). The bulls want a reversal from a higher low major trend […]
No EURUSD Breakout below the Triangle
Market Overview: EURUSD Forex On the weekly chart, there was still no EURUSD breakout below the triangle. The bulls want a reversal from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2). The bears hope that this week was simply a pullback […]
EURUSD Consecutive Doji
Market Overview: EURUSD Forex The monthly chart formed a EURUSD consecutive doji in the middle of the trading range. The market is in an area of balance. The bulls want the 20-month EMA or the bull trend line to act as support. The bears hope that March was simply a pullback which formed a lower […]
EURUSD Lower High
Market Overview: EURUSD Forex The pullback which started in February formed another EURUSD lower high major trend reversal. The bears want a reversal from the upper third of the large trading range and a breakout below the large triangle pattern. The bulls want the 20-week EMA or the bull trend line to act as support. […]
No EURUSD Follow-through Buying
Market Overview: EURUSD Forex There was no EURUSD follow-through buying on the weekly chart. Is this simply a pullback to be followed by another leg up completing the wedge pattern (with the first two legs being February 22 and March 8), or is the market forming a lower high major trend reversal? Traders will see […]
EURUSD Two-Legged Pullback
Market Overview: EURUSD Forex The weekly chart formed a EURUSD two-legged pullback, closing above the 20-week EMA. The bulls need to create a follow-through bull bar to increase the odds of the bull leg resuming. The bears want the 20-week EMA to act as resistance and a reversal from a lower high major trend reversal. […]
EURUSD Doji
Market Overview: EURUSD Forex The monthly chart formed a EURUSD doji in the middle of the trading range and at the 20-month EMA. The bulls want the 20-month EMA to act as support. The bears will need to create follow-through selling below the 20-month EMA to increase the odds of a retest of the October […]
Minor Pullback on EURUSD
Market Overview: EURUSD Forex This week formed a minor pullback on the EURUSD weekly chart. The bulls need consecutive bull bars closing near their highs, trading above the 20-week EMA to increase the odds of the bull leg resuming. The bears want the 20-week EMA to act as resistance followed by at least a small […]
EURUSD Outside Doji
Market Overview: EURUSD Forex The weekly candlestick was a EURUSD outside doji, stalling around the December 8 low area. The bulls want a reversal from a double bottom bull flag (Dec 8 and Feb 14). The bears want the 20-week EMA to act as resistance followed by at least a small leg sideways to down […]