{"id":173352,"date":"2023-03-12T01:30:00","date_gmt":"2023-03-12T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=173352"},"modified":"2023-03-12T01:17:38","modified_gmt":"2023-03-12T09:17:38","slug":"eurusd-pullback-stalled","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-pullback-stalled\/","title":{"rendered":"EURUSD Pullback Stalled at 20-Week EMA"},"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 market pullback stalled at the 20-week exponential moving average (EMA) for the last 3 weeks. The bulls want a larger second leg sideways to up to retest February high from a higher low major trend reversal and a double bottom bull flag with January 6 low. 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.<\/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\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA-680x383.png\" alt=\"EURUSD Weekly: Pullback Stalled at 20-Week EMA\" class=\"wp-image-173483\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-20-Week-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-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 an outside bull doji closing above the middle of its range.<\/li>\n\n\n\n<li>Last week, we said that traders will see if the bears can get a strong break below the 20-week EMA or will the bulls get a follow-through bull bar.<\/li>\n\n\n\n<li>This week traded below the 20-week EMA but reversed to close with a small bull body.<\/li>\n\n\n\n<li>The last 3 candlesticks are mostly overlapping and stalling around the 20-week EMA.<\/li>\n\n\n\n<li>The bears got a reversal down testing the 20-week EMA from a wedge top (Nov 15, Dec 5 and Feb 2).<\/li>\n\n\n\n<li>They wanted a 2-legged sideways-to-down pullback lasting at least a few weeks. The bears have gotten what they wanted.<\/li>\n\n\n\n<li>The next targets for the bears are the January 6 low and the November 21 low.&nbsp;<\/li>\n\n\n\n<li>So far, they have not been able to create follow-through selling below the 20-week EMA.<\/li>\n\n\n\n<li>The bears need to create consecutive bear bars trading far below the 20-week EMA to convince traders that a retest of the September low is underway.<\/li>\n\n\n\n<li>If the EURUSD trades higher, they want a reversal down from a lower high major trend reversal or a double top with the February high.<\/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 the current 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, and it has been so.<\/li>\n\n\n\n<li>Since this week was a bull doji closing above the middle of the bar, it is a weaker buy signal bar for next week.<\/li>\n\n\n\n<li>The bulls need to create follow-through buying to increase the odds of a retest of the February 2 high.<\/li>\n\n\n\n<li>If the EURUSD trades lower next week, the bulls want it to reverse up to close with a bull body or a long tail below again.<\/li>\n\n\n\n<li>For now, if the bears do not create strong follow-through selling below the 20-week EMA within a few weeks, the market will then do the opposite and attempt to retest February high instead.<\/li>\n\n\n\n<li>Traders will see if the bears can get a strong break below the 20-week EMA or will the bulls get a follow-through bull bar.<\/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\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR-680x383.png\" alt=\"EURUSD Daily: Wedge, Trading Range, HL MTR\" class=\"wp-image-173486\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Daily-Wedge-Trading-Range-HL-MTR.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 below the 20-day exponential moving average for the last 17 candlesticks.<\/li>\n\n\n\n<li>Previously, we said that <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-bear-reversal-bar\/\" target=\"_blank\" rel=\"noreferrer noopener\">odds slightly favor the EURUSD to trade at least a little lower<\/a> and traders will see if the bears can create consecutive bear bars closing near their lows or will the EURUSD trade slightly lower but reverse higher from around the January 6 low area.<\/li>\n\n\n\n<li>While the EURUSD has traded slightly lower, the bears have not yet been able to create sustained follow-through selling.<\/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 pullback with 3 pushes testing January 6 low (therefore a wedge &#8211; Feb 27, Mar 1 and Mar 6) but did not follow-through selling.<\/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>If the EURUSD trades higher, they want a reversal down from a lower high major trend reversal or a double top with the February high.<\/li>\n\n\n\n<li>The bears need to create consecutive bear bars closing near their lows trading far below the January 6 low to convince traders that a retest of the September low could be underway.<\/li>\n\n\n\n<li>The bulls got a strong spike &amp; channel up from October.<\/li>\n\n\n\n<li>The move up was strong enough to have flipped the market into Always In Long.&nbsp;<\/li>\n\n\n\n<li>The bulls want a larger second leg sideways to up to retest February high from a higher low major trend reversal and a double bottom bull flag with January 6 low.<\/li>\n\n\n\n<li>They also see a wedge bull flag (Feb 7, Feb 24 and Mar 8).<\/li>\n\n\n\n<li>Since Friday was a bull bar with a long tail above, it is a weaker buy signal bar.<\/li>\n\n\n\n<li>The EURUSD is trading around the middle of the 3-week trading range just under the 20-day exponential moving average. It is not an ideal buy setup.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a breakout with follow-through from either direction.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create strong follow-through selling breaking far below the 3-week trading range.<\/li>\n\n\n\n<li>If they continue failing to do so, odds will swing in favor of a retest of the February high within a couple of weeks.<\/li>\n<\/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 market pullback stalled at the 20-week exponential moving average (EMA) for the last 3 weeks. The bulls want a larger second leg sideways to up to retest February high from a higher low major trend reversal and a double bottom bull flag with January 6 low. The bears [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":173483,"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":[281,1390,84,341],"class_list":["post-173352","post","type-post","status-publish","format-standard","has-post-thumbnail","category-forex","category-analysis","tag-eurusd-forex","tag-outside-bar","tag-trading-range","tag-wedge","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/EURUSD-Weekly-PB-Stall-at-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\/173352","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=173352"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/173352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/173483"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=173352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=173352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=173352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}