{"id":171256,"date":"2023-02-26T01:30:00","date_gmt":"2023-02-26T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=171256"},"modified":"2023-02-26T01:02:56","modified_gmt":"2023-02-26T09:02:56","slug":"eurusd-pullback-to-the-20-week-ema","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-pullback-to-the-20-week-ema\/","title":{"rendered":"EURUSD Pullback to the 20-Week EMA"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The <strong>EURUSD <\/strong>Forex weekly chart bears got a pullback to the 20-week EMA (exponential moving average). The bears want a continuation down to the January 6 low or the November 21 low which was the start of the bull channel. The bulls want a reversal higher from a double bottom with January 6 low.<\/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>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\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA-680x383.png\" alt=\"EURUSD Pullback to the 20-Week EMA\" class=\"wp-image-171448\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s candlestick on the&nbsp;<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>&nbsp;was a big bear bar closing near its low.<\/li>\n\n\n\n<li>Last week, we said that traders will see if the bears can get another leg down reaching the 20-week exponential moving average or will the EURUSD trade slightly lower and form a micro double bottom with February 17 low and reverse up.<\/li>\n\n\n\n<li>The bears got another leg down testing the 20-week exponential moving average.<\/li>\n\n\n\n<li>They want a 2-legged sideways-to-down pullback lasting at least a few weeks.&nbsp;<\/li>\n\n\n\n<li>They got a reversal lower from a wedge top (Nov 15, Dec 5 and Feb 2).<\/li>\n\n\n\n<li>This week was the second leg down after a pullback last week.<\/li>\n\n\n\n<li>The next targets for the bears are the January 6 low and the November 21 low which is the start of the bull channel.<\/li>\n\n\n\n<li>The bears need to create consecutive bear bars trading far below the 20-week exponential moving average to convince traders that a retest of the September low is underway.<\/li>\n\n\n\n<li>The bulls got a strong spike and channel up from September 2022 and the market may have flipped into Always In Long.&nbsp;<\/li>\n\n\n\n<li>The strong move up increases the odds of at least a small second leg sideways to up after a deeper pullback.&nbsp;<\/li>\n\n\n\n<li>They hope to get a reversal up from a double bottom bull flag with January 6 low.<\/li>\n\n\n\n<li>They want the 20-week exponential moving average to act as support.<\/li>\n\n\n\n<li>Since this week was a bear bar closing near the low, it is a sell signal bar for next week.<\/li>\n\n\n\n<li>Odds slightly favor the EURUSD to trade at least a little lower.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create strong bear bars closing below the 20-week exponential moving average or will the EURUSD trade sideways and stall around the January 6 low.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> EURUSD chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel-680x383.png\" alt=\"EURUSD Daily: 2nd Leg Down, 5-Bar Bear Microchannel\" class=\"wp-image-171451\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-2nd-Leg-Down-5-Bar-Bear-Microchannel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded sideways to down for the week.<\/li>\n\n\n\n<li>Last week, we said that the <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-outside-bull-doji\/\" target=\"_blank\" rel=\"noreferrer noopener\">EURUSD may trade slightly higher<\/a> early next week. Until the bears can create strong consecutive bear bars closing near their lows, the bulls may still get a retest of the February high.<\/li>\n\n\n\n<li>This week, the bears got consecutive bear bars closing near their lows.<\/li>\n\n\n\n<li>The bears see the move up since September as a 50% pullback of the selloff which started in May 2021.<\/li>\n\n\n\n<li>They got a reversal lower from a wedge top (Nov 15, Dec 15, and Feb 2) and a micro wedge (Jan 13, Jan 26 and Feb 2).<\/li>\n\n\n\n<li>This week, the bears got a second leg down from a double top bear flag (Feb 9 and Feb 14).<\/li>\n\n\n\n<li>The bears currently have a 5-bar bear micro channel which means persistent selling.<\/li>\n\n\n\n<li>The channel down since February 2 is in a tight bear channel which increases the odds of a larger second leg sideways to down after a pullback (bounce).<\/li>\n\n\n\n<li>The next targets for the bears are the January 6 low and the November 21 low which was the start of the bull channel.<\/li>\n\n\n\n<li>The spike &amp; tight channel up since October means strong bulls.<\/li>\n\n\n\n<li>The odds slightly favor the market has flipped into Always In Long.&nbsp;<\/li>\n\n\n\n<li>The bulls want a reversal up from a higher low major trend reversal and a double bottom bull flag with January 6 low.<\/li>\n\n\n\n<li>They want a larger second leg sideways to up to retest February high.<\/li>\n\n\n\n<li>Because of the tight bear channel down, the bulls will need a strong reversal bar or at least a micro double bottom before they would be willing to buy aggressively.<\/li>\n\n\n\n<li>For now, odds slightly favor the EURUSD to trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can continue to create consecutive bear bars closing near their lows, or will the EURUSD trade slightly lower but reverse higher around the January 6 low area.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>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 weekly chart bears got a pullback to the 20-week EMA (exponential moving average). The bears want a continuation down to the January 6 low or the November 21 low which was the start of the bull channel. The bulls want a reversal higher from a double bottom with [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":171448,"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":[1353,281,1347],"class_list":{"0":"post-171256","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-consecutive-bear-bars","10":"tag-eurusd-forex","11":"tag-pullback","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Weekly-PB-Testing-20-Week-EMA.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\/171256","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=171256"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/171256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/171448"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=171256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=171256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=171256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}