The EURUSD Forex monthly candlestick was a consecutive bear bar below the 7-year trading range low. The long tails below July and August candlesticks indicate that the bears are not as strong as they could have been. Bears want a breakout below the 7-year trading range low followed by a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low. The bulls want a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and August 23).
Emini bulls want strong entry bar today
Trading Update: Friday September 2, 2022 Emini pre-open market analysis Emini daily chart The bears began taking partial profits yesterday, and the bulls started to buy for scalps. Bulls want strong entry bar today. The market reached the July 8 breakout point where there were buyers. Most breakout points are eventually tested; this is because […]
Emini first reversal up likely minor
Trading Update: Thursday September 1, 2022 Emini pre-open market analysis Emini daily chart Emini first reversal up likely minor. Bears have done a great job getting follow-through from the August 26 bear breakout. While the market is probably always in short, however, it is approaching support levels like the June 28 breakout point high, which […]
Emini likely bounce as bears take partial profits
Trading Update: Tuesday August 30, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a disappointing bar for both the bulls and bears. The market will likely bounce here as bears take partial profits and may test the 4,100 area. This is because the risk is big for the bears, so they will likely […]
Emini bears likely disappointment soon
Trading Update: Monday August 29, 2022 Emini pre-open market analysis Emini daily chart Emini bears likely disappointment soon. Friday was a substantial bear-trend bar, which was a surprise. At the moment, the odds favor at least a small 2nd leg down over the next couple of days. Since Friday is a climactic bar, it is […]
EURUSD Retest of July Low, Prominent Tail below Weekly Candlestick
The EURUSD Forex weekly candlestick was a bear follow-through bar testing July low. The prominent tail below indicates that the bears are not yet as strong as they would like to be. The bears want a strong breakout and a measured move based on ??? below July low. Bulls want the EURUSD to stall around the July low and another reversal attempt from a wedge bottom (Mar 4, May 13 and July 14) and a double bottom with the July low (July 14 and May 23).
Emini Bulls Strong Follow-through Bar Wanted Today
Trading Update: Friday August 26, 2022 Emini pre-open market analysis Emini daily chart The bulls got a strong rally into the close yesterday, which caused yesterday to close on its high. Bulls strong follow-through bar wanted today to increase the odds of testing the August high. This is good for the bulls and increases the […]
Emini may go sideways around midpoint of year
Trading Update: Thursday August 25, 2022 Emini pre-open market analysis Emini daily chart The Emini may go sideways as the market will likely bounce and test the midpoint of the year around 4,220. The midpoint of the year is an important magnet, and the market may have difficulty getting far away from it. The bears […]
Emini bulls want rally up to 4,200
Trading Update: Wednesday August 24, 2022 Emini pre-open market analysis Emini daily chart The market had a bear close yesterday, but it was a doji close near the open of the day. This is a sign of loss of momentum by the bears and increases the odds that the market will bounce soon and bears […]
Emini likely bounce to form lower high
Trading Update: Tuesday August 23, 2022 Emini pre-open market analysis Emini daily chart Emini likely bounce to form lower high. Yesterday was a good bar for the bears and increases the odds that the first reversal up will fail and lead to a lower high. The market is testing down to support and may have […]
