{"id":155277,"date":"2022-07-03T01:30:00","date_gmt":"2022-07-03T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=155277"},"modified":"2022-07-06T01:43:41","modified_gmt":"2022-07-06T08:43:41","slug":"eurusd-forex-inside-bear-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-forex-inside-bear-bar\/","title":{"rendered":"EURUSD June monthly candlestick was inside bear bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>EURUSD&nbsp;<\/strong>Forex market gave an inside bear bar on monthly chart and is in a 10-week trading range. Bears want a breakout below the 2017 low followed by a measured move down based on the height of the 7-year trading range height. Bulls want a reversal higher from a wedge bottom and a double bottom from the 7-year trading range low. Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Monthly<\/em> EURUSD Forex chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom-680x383.png\" alt=\"EURUSD Forex Monthly Chart Inside Bear Bar Micro Double Bottom\" class=\"wp-image-155441\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The June Monthly EURUSD candlestick was a big inside bear bar with a long tail below.&nbsp;<\/li><li>Last month, we said odds are June should trade at least slightly above May.&nbsp;<\/li><li>June traded lower for the month but did not trade below May low.<\/li><li>Since June was an inside bar, the EURUSD is in breakout mode. Sometimes the bar following an inside bar is another inside bar. It would then form an ii (inside-inside) pattern which is also a breakout mode.<\/li><li>The first breakout from an inside bar can fail 50% of the time.<\/li><li>The bulls hope the sharp sell-off from 2021 was a sell vacuum test of the 2017 low.<\/li><li>They want a failed breakout from below March 2020 low and a reversal up from a trend channel line overshoot and parabolic wedge (August 20, November 24, May 13).<\/li><li>Bulls also have a lower low major trend reversal and a double bottom with the 2017 low. May and June&#8217;s low formed a micro double bottom.<\/li><li>However, the bulls failed to create a consecutive bull bar in June following May\u2019s strong reversal bar.<\/li><li>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.<\/li><li>The sell-off since June 2021 is in a tight bear channel. That means persistent selling and strong bears.<\/li><li>The market has been in a trading range for seven years. It is now near the bottom of the range. Reversals are more likely than breakouts.&nbsp;<\/li><li>Therefore, as strong as the sell-off has been, it is still more likely a bear leg in the seven-year trading range than a resumption of the 15-year bear trend.<\/li><li>The odds of a reversal from the bottom of the 7-year trading range are slightly higher than a strong breakout below 2017 low and a measured move down.<\/li><li>For now, the EURUSD has been in a sideways trading range for the past 2 months.<\/li><li>Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> EURUSD chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range-680x383.png\" alt=\"EURUSD Forex Weekly Chart Micro Double Bottom 10-week Trading Range\" class=\"wp-image-155444\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Micro-Double-Bottom-10-Week-Trading-Range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>This week\u2019s candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>\u00a0was an outside bear bar with a long tail below.\u00a0<\/li><li>Last week, we said that traders still need more information, therefore more bars. The EURUSD would likely need to trade sideways for a couple more weeks for traders to get more clarity.<\/li><li>The EURUSD stalled around the bear trend line and the bears got the second leg sideways to down this week.\u00a0<\/li><li>The bears want the EURUSD to stall around or below the May 30 high, the bear trend line, or the 20-week exponential moving average.<\/li><li>Bears want a retest of the 2017 low followed by a strong breakout and a measured move down based on the height of the 7-year trading range.<\/li><li>If the bears get at least 2 strong bear bars closing below the 2017 low, odds of a breakout and a measured move increase.<\/li><li>The bulls hope the sell-off since March was a sell vacuum test of the 7-year trading range low. They want at least a 2-legged sideways to-up pullback.\u00a0<\/li><li>The bulls want a reversal higher from a double bottom (May 13 and Jun 15) following a trend channel line overshoot and a wedge bottom (Aug 20, Nov 24 and May 13).<\/li><li>They also have a micro double bottom (June 15 and July 1).<\/li><li>The first target for the bulls is the May 30 major lower high.\u00a0\u00a0<\/li><li>Bulls will need to create consecutive bull bars trading far above the May 30 high to convince traders that a reversal higher may be underway.<\/li><li>Al has said that the market has been in a trading range for seven years. Reversals are more likely than breakouts and a measured move down. This remains true.<\/li><li>Therefore, as strong as the sell-off has been, it is still more likely a bear leg in the seven-year trading range than a resumption of the 15-year bear trend.<\/li><li>For now, traders still need more information, therefore more bars. The EURUSD would likely need to trade sideways for a couple more weeks for traders to get more clarity.<\/li><li>Traders will continue to BLSH (Buy Low, Sell High) until there is a strong breakout from the 10-week trading range.<\/li><li>If the EURUSD trades higher but stalls around or slightly below the May 30 high, odds are the bears will return to sell the double top bear flag.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0EURUSD\u00a0Forex market is in a 10-week trading range. Bears want a breakout below the 2017 low followed by a measured move down based on the height of the 7-year trading range height. Bulls want a reversal higher from a wedge bottom and a double bottom from the 7-year trading range low. Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.\u00a0<\/p>\n","protected":false},"author":2836,"featured_media":155441,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1842,136],"tags":[281],"class_list":["post-155277","post","type-post","status-publish","format-standard","has-post-thumbnail","category-forex","category-analysis","tag-eurusd-forex","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-Bear-inside-Bar-Micro-Double-Bottom.png","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/155277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=155277"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/155277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/155441"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=155277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=155277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=155277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}