{"id":203326,"date":"2024-03-24T01:30:00","date_gmt":"2024-03-24T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=203326"},"modified":"2024-03-24T10:04:05","modified_gmt":"2024-03-24T17:04:05","slug":"eurusd-lower-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-lower-high\/","title":{"rendered":"EURUSD Lower High"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The pullback which started in February formed another EURUSD lower high major trend reversal. The bears want a reversal from the upper third of the large trading range and a breakout below the large triangle pattern. The bulls want the 20-week EMA or the bull trend line to act as support.<\/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\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle-680x383.jpg\" alt=\"EURUSD Weekly: Bears Need FT &amp; BO below Triangle, EURUSD Lower High\" class=\"wp-image-203493\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\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 bear bar closing near its low and below the 20-week EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-eurusd-follow-through-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor a breakout below the inside bar first. Traders will see if the bears can create a follow-through bear bar closing back below the 20-week EMA. If they do, the odds of a retest of the February low will increase.<\/li>\n\n\n\n<li>The bears got what they wanted. Previously, they got a reversal from a wedge bear flag (Nov 3, Nov 29, and Dec 28) and a lower high major trend reversal.<\/li>\n\n\n\n<li>They see the recent pullback (to March 8) as forming another lower high major trend reversal (against Dec high).<\/li>\n\n\n\n<li>They want a reversal from the upper third of the large trading range and a breakout below the large triangle pattern.<\/li>\n\n\n\n<li>Since this week closed below the 20-week EMA, the bears will need to create follow-through selling to increase the odds of the bear leg resuming.<\/li>\n\n\n\n<li>If the market trades higher, they want a reversal from a wedge bear flag (with the first two legs being February 22 and March 8) and a double top bear flag with March 8 high.<\/li>\n\n\n\n<li>The bulls got a 2-legged sideways to up pullback from a double bottom bull flag (Dec 8 and Feb 14).<\/li>\n\n\n\n<li>However, they were not able to get follow-through buying following the recent close above the 20-week EMA.<\/li>\n\n\n\n<li>They hope that the current move is simply a pullback and want a retest of the March 8 high followed by a breakout above.<\/li>\n\n\n\n<li>They want the 20-week EMA or the bull trend line to act as support.&nbsp;<\/li>\n\n\n\n<li>Since this week\u2019s candlestick was a bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n<li>For now, odds slightly favor the market to trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can create a follow-through bear bar following this week\u2019s close below the 20-week EMA. If they do, the odds of a retest of the February low and breakout attempt will increase.<\/li>\n\n\n\n<li>Or will the market trade slightly over, but find support around the bull trend line area?<\/li>\n\n\n\n<li>The EURUSD is in a 69-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).&nbsp;<\/li>\n\n\n\n<li>The EURUSD has been in a smaller trading range in the last 19 weeks.&nbsp;<\/li>\n\n\n\n<li>Traders will continue to BLSH (Buy Low, Sell High) within a trading range until there is a breakout with follow-through selling\/buying.<\/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\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL-680x383.jpg\" alt=\"EURUSD Daily: Retest February Low, Can Bears BO below TL?\" class=\"wp-image-203496\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Retest-February-Low-Can-Bears-BO-below-TL.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded slightly lower earlier in the week but reversed back above the 20-day EMA. Thursday reversed below the 20-day EMA with follow-through selling on Friday.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-eurusd-follow-through-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders want to see if the bears can create follow-through selling below the 20-day EMA. If they can, the odds of the bear leg retesting the February low will increase.<\/li>\n\n\n\n<li>The bulls see the move down (to Feb low) as forming a double bottom bull flag (Dec 8 and Feb 14) and a wedge bull flag (Jan 5, Feb 6, and Feb 14).&nbsp;<\/li>\n\n\n\n<li>They got a TBTL (Ten Bars, Two Legs) pullback forming a lower high.<\/li>\n\n\n\n<li>They hope to get another leg up from a double bottom bull flag with March 1 low.<\/li>\n\n\n\n<li>They want the 20-day EMA or the bull trend line to act as support.<\/li>\n\n\n\n<li>If the market trades lower, they want a reversal from a higher low major trend reversal or a wedge bull flag with the first two legs being December 8 and February 14.<\/li>\n\n\n\n<li>Previously, the bears were able to able to create sideways to down trading below the 20-day EMA (from Dec to Feb), albeit not very strong (a lot of overlapping price action).<\/li>\n\n\n\n<li>They see the recent move (to March 8) simply as a two-legged pullback and a buy vacuum test of the small trading range high area.<\/li>\n\n\n\n<li>They got a reversal from a lower high major trend reversal (against Dec high) and a double top bear flag (Jan 11 and Mar 8).<\/li>\n\n\n\n<li>They want a retest of the February 14 low (even if it only ends up as a higher low). The retest is currently underway.<\/li>\n\n\n\n<li>The bears need to continue creating follow-through selling breaking far below the bull trend line to increase the odds of a retest of the February low.<\/li>\n\n\n\n<li>For now, odds slightly favor the market to trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can create follow-through selling below the bull trend line.<\/li>\n\n\n\n<li>If they can, the odds of the bear leg retesting the February low will increase.<\/li>\n\n\n\n<li>The EURUSD has been in a small trading range in the last 19 weeks.&nbsp;<\/li>\n\n\n\n<li>The market is trading towards the lower third of the trading range. Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>Traders will continue to BLSH (Buy Low, Sell High) within a trading range until there is a breakout with follow-through selling\/buying.<\/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 pullback which started in February formed another EURUSD lower high major trend reversal. The bears want a reversal from the upper third of the large trading range and a breakout below the large triangle pattern. The bulls want the 20-week EMA or the bull trend line to act as support. [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":203493,"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-203326","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\/2024\/03\/EURUSD-Weekly-Bears-Need-FT-BO-below-Triangle.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\/203326","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=203326"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/203326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/203493"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=203326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=203326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=203326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}