{"id":161666,"date":"2022-10-02T01:30:00","date_gmt":"2022-10-02T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=161666"},"modified":"2022-10-02T01:52:34","modified_gmt":"2022-10-02T08:52:34","slug":"eurusd-weak-bear-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-weak-bear-bar\/","title":{"rendered":"EURUSD Weak Bear Bar with Long Tail Below"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>EURUSD <\/strong>Forex monthly candlestick was another EURUSD weak bear bar after breaking below the 7-year trading range low. There is now a micro wedge (July, Aug and Sept) on the monthly chart. Bulls want a larger 2-legged sideways to up pullback before the EURUSD trades lower. The problem with the bull&#8217;s case is that they have not been able to create sustained follow-through buying since 2021.<\/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\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR-680x383.png\" alt=\"EURUSD Forex Monthly Chart Consecutive Bear Bars below 7-year TR. EURUSD Weak Bear Bar.\" class=\"wp-image-161846\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The September Monthly EURUSD candlestick was a bear bar with a prominent tail below, closing in the lower half of the month\u2019s range.<\/li><li>Last month, we said that odds slightly favor sideways to down. If September trades below the August low, but closes with another long tail below, there would be a micro wedge (July, Aug, September).<\/li><li>September broke far below the August low, but the long tail below indicates that the bears are not as strong as they could have been.<\/li><li>The bulls want a failed breakout from the 7-year trading range low. They want a reversal up from a trend channel line overshoot and parabolic wedge (Nov 24, May 13 and Sept 28).\u00a0<\/li><li>They also have a micro wedge (July, Aug, September).<\/li><li>However, the bulls have not been able to create strong consecutive bull bars since the selloff in 2021.<\/li><li>Bears want a measured move down based on the height of the 7-year trading range, which will take them to the year 2000 low.<\/li><li>The selloff since June 2021 is in a tight bear channel. That means persistent selling and strong bears.\u00a0<\/li><li>The bears got consecutive bears bar following the breakout below the 7-year trading range. However, the candlesticks (July, Aug, September) have prominent tails below.<\/li><li>Since September was a big bear bar with a long tail below, it is a weaker sell signal bar for October.<\/li><li>Odds continue to slightly favor lower prices for the EURUSD.<\/li><li>However, the selling has been climactic. The trend channel line overshoot (September) and parabolic wedge bottom (Nov 24, May 13 and Sept 28), increase the odds of at least a small sideways to up pullback, beginning within 1-2 months before the EURUSD continues lower.<\/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\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar-680x383.png\" alt=\"EURUSD Forex Weekly Chart No Follow-through Selling, Reversal Bar\" class=\"wp-image-161849\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-No-Follow-through-Selling-Reversal-Bar.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 a bull reversal bar with a long tail below, and a prominent tail above.<\/li><li>Last week, we said that odds slightly favor sideways to down and traders will see if the bears get a follow-through bear bar or fail to do so.\u00a0<\/li><li>This week traded lower but reversed to close with a bull body.<\/li><li>The bears want a strong breakout below the 2017 low, and a measured move down based on the height of the 7-year trading range. This will take them to the year 2000 low.<\/li><li>The move down is in a tight bear channel. That means strong bears.\u00a0<\/li><li>While last week\u2019s breakout below the July-August low was strong, the bears failed to get follow-through selling this week.<\/li><li>The bulls hope that the recent 10-week trading range (July to Sept) is the final flag of the move.\u00a0<\/li><li>They want a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and a trend channel line overshoot (this week).<\/li><li>However, the bulls kept failing to get sustained follow-through buying, a recurring theme since the selloff started in 2021.<\/li><li>The bulls will need to create strong consecutive bull bars closing near their highs, breaking far above the bear trend line to convince traders that a larger sideways to up pullback may be underway.<\/li><li>Since this week was a bull reversal bar closing near the high, it is a buy signal bar for next week.\u00a0<\/li><li>Traders will be monitoring if the bull can get a follow-through bull bar next week or fail to do so.\u00a0<\/li><li>If the bulls get a consecutive bull bar, it could be the start of a larger 2-legged sideways to up pullback lasting at least a few weeks.<\/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>Market Overview: EURUSD Forex The EURUSD Forex monthly candlestick was another EURUSD weak bear bar after breaking below the 7-year trading range low. There is now a micro wedge (July, Aug and Sept) on the monthly chart. Bulls want a larger 2-legged sideways to up pullback before the EURUSD trades lower. The problem with the [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":161846,"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-161666","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\/10\/EURUSD-Monthly-Consecutive-Weak-Bears-Bars-below-7-Year-TR.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\/161666","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=161666"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/161666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/161846"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=161666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=161666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=161666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}