{"id":174854,"date":"2023-04-02T01:30:00","date_gmt":"2023-04-02T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=174854"},"modified":"2023-04-02T03:23:38","modified_gmt":"2023-04-02T10:23:38","slug":"eurusd-overlapping-candlesticks","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-overlapping-candlesticks\/","title":{"rendered":"EURUSD Overlapping Candlesticks"},"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 chart has 3 overlapping candlesticks. That means that the EURUSD is in a trading range. The bears failed to get follow-through selling in March. The bulls need to create a follow-through bull bar trading above the February high to increase the odds of another leg higher.<\/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\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks-680x383.png\" alt=\"EURUSD Monthly: March Bull Bar, Overlapping Candlesticks\" class=\"wp-image-174997\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Monthly-March-Bull-Bar-Overlapping-Candlesticks.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The March monthly EURUSD candlestick was a bull bar with a small tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-weak-breakout\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month, we said that odds slightly favor the EURUSD<\/a> to trade at least a little below the February low and traders will see if the bears can get a strong follow-through bear bar, or will the EURUSD trade slightly lower but close with a bull body or a long tail below.<\/li>\n\n\n\n<li>The EURUSD broke below the February low twice (Mar 8 and Mar 15) and at both times had no follow-through selling. The market then traded higher to close as a big bull bar.<\/li>\n\n\n\n<li>The bears want a reversal down from a lower high around the 20-month exponential moving average.<\/li>\n\n\n\n<li>However, they failed to create follow-through selling in March.<\/li>\n\n\n\n<li>They hope that the current move is simply a retest of the February high and want a reversal down from a lower high major trend reversal (Feb 2).<\/li>\n\n\n\n<li>The bulls got a reversal higher from a failed breakout below the February low.<\/li>\n\n\n\n<li>Previously, they had a 6-bar bull micro channel. That means persistent buying. The market may have flipped into Always In Long.<\/li>\n\n\n\n<li>Often, there are buyers below the first pullback from such a strong bull microchannel. This was the case in March.<\/li>\n\n\n\n<li>With March closing near its high, odds slightly favor April to trade at least a little above March high.<\/li>\n\n\n\n<li>The bulls want another strong leg up lasting a couple of months testing around the January\/February 2022 high.<\/li>\n\n\n\n<li>For this, they need to create consecutive bull bars breaking far above February 2 high, the bear trend line and the 20-month exponential moving average.<\/li>\n\n\n\n<li>The last 3 candlesticks are overlapping sideways, alternating between bull and bear candlesticks. That means the EURUSD is in a trading range.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction with follow-through buying\/selling.<\/li>\n<\/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\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge-680x383.png\" alt=\"EURUSD Weekly: Double Top, Micro Double Top, MC Wedge\" class=\"wp-image-175000\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge.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 inside bull bar with a prominent tail above.<\/li>\n\n\n\n<li>Last week, we said that traders will see if the bulls can create a follow-through bull bar or will the bears create a failed breakout of the OO pattern instead.<\/li>\n\n\n\n<li>This week traded sideways to up but did not break above last week\u2019s 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. It is happening now.<\/li>\n\n\n\n<li>They got a reversal up from a double bottom bull flag (Jan 6 and Mar 15) to retest near the February high.<\/li>\n\n\n\n<li>The bulls need to create follow-through buying breaking far above the February high to convince traders that another big leg higher is possibly underway.<\/li>\n\n\n\n<li>The prominent tails above the last 2 candlesticks indicate the bulls are not yet very strong.<\/li>\n\n\n\n<li>The bears want a reversal down from a lower high major trend reversal. They see a micro wedge (Mar 7, Mar 15, and Mar 23) and a micro double top (Mar 23 and Mar 30) forming.<\/li>\n\n\n\n<li>They want a retest of the March 15 low.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that they have not been able to create credible bear bars with follow-through selling since the end of February.<\/li>\n\n\n\n<li>They will need to create a strong bear signal bar before traders will be willing to sell more aggressively.<\/li>\n\n\n\n<li>Since this week was an inside bull bar, that means the EURUSD is in breakout mode. The bulls want a breakout above while the bears want a breakout below it.<\/li>\n\n\n\n<li>The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n<li>Often, the candlestick following an inside bar is another inside bar or has a lot of overlapping price action.&nbsp;<\/li>\n\n\n\n<li>If it is another inside bar, it will form an ii (inside-inside) pattern which is also a breakout mode pattern.<\/li>\n\n\n\n<li>For now, the EURUSD is in a trading range between 1.1 and 1.05.&nbsp;<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction with follow-through buying\/selling.<\/li>\n\n\n\n<li>Traders will see if the bulls can create a strong breakout above this week\u2019s high or will the EURUSD trade slightly higher but fail and close as a bear bar or with a long tail above.<\/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 monthly chart has 3 overlapping candlesticks. That means that the EURUSD is in a trading range. The bears failed to get follow-through selling in March. The bulls need to create a follow-through bull bar trading above the February high to increase the odds of another leg higher. EURUSD [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":175000,"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":[328,281,1396,84],"class_list":["post-174854","post","type-post","status-publish","format-standard","has-post-thumbnail","category-forex","category-analysis","tag-double-top","tag-eurusd-forex","tag-micro-double-top","tag-trading-range","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Micro-Double-Top-MC-Wedge.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\/174854","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=174854"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/174854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/175000"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=174854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=174854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=174854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}