{"id":196379,"date":"2023-12-24T01:30:00","date_gmt":"2023-12-24T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=196379"},"modified":"2023-12-25T04:06:22","modified_gmt":"2023-12-25T12:06:22","slug":"eurusd-consecutive-bull-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-consecutive-bull-bar\/","title":{"rendered":"EURUSD Consecutive Bull Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The weekly chart was a EURUSD consecutive bull bar, testing the trading range high. The bulls need to create follow-through buying above the November 29 high to increase the odds of retesting the July high. The bears want a reversal from a small double top (Nov 29 and Dec 22) and a lower high major trend reversal.<\/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\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up-680x383.jpg\" alt=\"EURUSD Consecutive Bull Bar, EURUSD Weekly: Bull FT, Second Leg Up?\" class=\"wp-image-196509\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up.jpg 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 bull bar closing near its high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-second-leg-up\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that odds continue to slightly favor any pullback to be minor and for the market to still be Always In Long.<\/li>\n\n\n\n<li>This week traded higher and closed slightly below the November 29 high.<\/li>\n\n\n\n<li>The bulls want a retest of the July high followed by a continuation higher in the form of a large second leg up (with the first leg being September 2022 to July 2023 rally).<\/li>\n\n\n\n<li>They got a reversal from a higher low major trend reversal with the 20-week EMA acting as support.&nbsp;<\/li>\n\n\n\n<li>They need to continue creating follow-through buying trading above the November 29 high to increase the odds of higher prices.<\/li>\n\n\n\n<li>The bears got a pullback to the 20-week EMA but were not able to create follow-through selling.<\/li>\n\n\n\n<li>They see the rally in October and November simply as a deep pullback.&nbsp;<\/li>\n\n\n\n<li>They want a reversal from a wedge bear flag (Oct 12, Nov 3, and Nov 29) and a lower high major trend reversal.<\/li>\n\n\n\n<li>They hope that this week was simply a retest of the prior leg\u2019s extreme high (Nov 29) and want a reversal from a small double top (Nov 29 and Dec 22).<\/li>\n\n\n\n<li>They need to create a few strong consecutive bear bars closing below the 20-week EMA to increase the odds of retesting the trading range low.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bull bar closing near its high, it is a buy signal bar for next week.<\/li>\n\n\n\n<li>For now, odds continue to slightly favor the market to still be Always In Long.<\/li>\n\n\n\n<li>Traders will see if the bulls can create another follow-through bull bar or will the market stall around the November 29 high area.<\/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\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top-680x383.jpg\" alt=\"EURUSD Daily: Second Leg Up or Double Top?\" class=\"wp-image-196512\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Second-Leg-Up-or-Double-Top.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded higher for the week, breaking above the big inside bear bar.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-second-leg-up\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor a breakout below the inside bar first. While the pullback can last a couple of weeks more, odds slightly favor the market to still be Always In Long.<\/li>\n\n\n\n<li>Previously, the bulls got a bull leg which retested the upper third of the trading range (in November).<\/li>\n\n\n\n<li>They then got a reversal from a higher low major trend reversal (Dec 8) and a second leg sideways to up after a 50% pullback.&nbsp;<\/li>\n\n\n\n<li>They hope to get a big second leg sideways to up lasting many weeks.<\/li>\n\n\n\n<li>The bulls will need to create sustained follow-through buying above the November 29 high to increase the odds of higher prices.<\/li>\n\n\n\n<li>Previously, the bears got a reversal down from a wedge pattern near the upper third of the trading range (Nov 14, Nov 21, and Nov 29), a lower high major trend reversal and a double top bear flag (Aug 10 and Nov 29).<\/li>\n\n\n\n<li>However, they were not able to get a second leg sideways to down.<\/li>\n\n\n\n<li>They see the current move as a two-legged retest of the November 29 high and want a reversal from a double top major trend reversal (Nov 29 and Dec 22).<\/li>\n\n\n\n<li>They will need to create consecutive bear bars closing near their lows and trading below the 20-day EMA next week to increase the odds of a deeper pullback.<\/li>\n\n\n\n<li>Friday broke above the November 29 high, but it was not a strong breakout bar.<\/li>\n\n\n\n<li>The bulls need to create sustained follow-through buying above the November 29 high to increase the odds of retesting the July high.<\/li>\n\n\n\n<li>If the market continues to stall around the November 29 high area, the odds of another pullback will begin within a few weeks.<\/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 weekly chart was a EURUSD consecutive bull bar, testing the trading range high. The bulls need to create follow-through buying above the November 29 high to increase the odds of retesting the July high. The bears want a reversal from a small double top (Nov 29 and Dec 22) and [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":196509,"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":{"0":"post-196379","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-eurusd-forex","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Bull-FT-Second-Leg-Up.jpg","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\/196379","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=196379"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/196379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/196509"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=196379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=196379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=196379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}