{"id":213106,"date":"2024-07-21T01:30:00","date_gmt":"2024-07-21T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=213106"},"modified":"2024-07-20T13:19:25","modified_gmt":"2024-07-20T20:19:25","slug":"eurusd-bear-doji","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-bear-doji\/","title":{"rendered":"EURUSD Bear Doji"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The weekly candlestick was a EURUSD bear doji testing the triangle top. The bears want a reversal from a wedge bear flag from around the top of the triangle pattern. If there is a pullback, the bulls want at least a small second leg sideways to up to retest the current leg extreme high (Jul 17).<\/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\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance-680x383.jpg\" alt=\"EURUSD Weekly: Bear Doji at Resistance, EURUSD Bear Doji\" class=\"wp-image-213256\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance.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\u00a0week\u2019s\u00a0candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a> was a doji with a long tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-follow-through-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders will see if the bulls can create another follow-through bull bar or will the market trade slightly higher but stall and close with a long tail above or a bear body?<\/li>\n\n\n\n<li>The market traded higher testing near the bear trend line in the first half of the week but reversed to close almost unchanged.<\/li>\n\n\n\n<li>Previously, the bulls had a reversal from a higher low major trend reversal and a wedge bull flag (Feb 14, Apr 16, and Jun 26).<\/li>\n\n\n\n<li>They created a 4-bar bull microchannel closing above the 20-week EMA testing near the bear trend line. Buyers may be below the first pullback from such a strong bull microchannel.<\/li>\n\n\n\n<li>While this week traded above the June high, the bulls weren&#8217;t able to create follow-through buying.<\/li>\n\n\n\n<li>They need to create a breakout above the June high and the triangle with follow-through buying to increase the odds of a retest of the trading range high (Dec 28).<\/li>\n\n\n\n<li>If there is a pullback, the bulls want at least a small second leg sideways to up to retest the current leg extreme high (Jul 17). They want the 20-week EMA to act as support.<\/li>\n\n\n\n<li>The bears see the current move simply as a buy vacuum and a bull leg within a trading range.<\/li>\n\n\n\n<li>They want a reversal from a wedge bear flag (Mar 8, Jun 4, and Jul 17) or a double top bear flag (Jun 4 and July 17) from around the top of the triangle pattern.<\/li>\n\n\n\n<li>They need to create a strong entry bar with follow-through selling to increase the odds of a deep pullback.<\/li>\n\n\n\n<li>They want the bear trend line to act as resistance.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a doji bar closing in its lower half with a long tail above, it is a sell signal bar for next week albeit weaker.<\/li>\n\n\n\n<li>However, it is following a 4-bar bull microchannel and a tight bull channel up. The first pullback may only be minor.<\/li>\n\n\n\n<li>Traders will see if the bears can create a strong entry bar or will the market trade slightly lower but stall and reverse higher.<\/li>\n\n\n\n<li>The market is trading around the upper third of the trading range which can be the sell zone of trading range traders.<\/li>\n\n\n\n<li>The bear trendline is an area of resistance.<\/li>\n\n\n\n<li>The EURUSD is in an 87-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).\u00a0<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until a\u00a0breakout with follow-through selling\/buying.<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/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\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance-680x383.jpg\" alt=\"EURUSD Daily: Parabolic Wedge at Resistance\" class=\"wp-image-213259\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Daily-Parabolic-Wedge-at-Resistance.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 sideways to up in the first half of the week. Thursday was an inside bear bar with follow-through selling on Friday.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-follow-through-buying\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls can continue to create follow-through buying breaking above the June high and the triangle. Or will the market stall around the June high and form a pullback to the 20-day EMA?<\/li>\n\n\n\n<li>The bulls got a reversal from a higher low\u00a0major\u00a0trend reversal and a wedge bull flag (Feb 14, Apr 16, and Jun 26).<\/li>\n\n\n\n<li>They created a tight bull channel far above the 20-day EMA. That means strong bulls.<\/li>\n\n\n\n<li>While the market traded above the June high this week, there was no follow-through buying.<\/li>\n\n\n\n<li>If the market trades lower, the bulls want the 20-day EMA to act as support.<\/li>\n\n\n\n<li>They want at least a small second leg sideways to up to retest the current leg extreme high (Jul 17) after a pullback.<\/li>\n\n\n\n<li>The bears see the current move simply as a buy vacuum testing the trading range high and the bear trend line.<\/li>\n\n\n\n<li>They see a larger wedge bear flag forming (Mar 8, Jun 4, and Jul 17), a double top bear flag (Jun 4 and Jul 17) and a parabolic wedge (Jul 5, Jul 12, and Jul 17).<\/li>\n\n\n\n<li>They want a reversal from around the upper third of the trading range and want the bear trend line to act as resistance.<\/li>\n\n\n\n<li>They need to create follow-through selling trading below the 20-day EMA to increase the odds of testing the June low.<\/li>\n\n\n\n<li>So far, the move up from June 26 is in a tight bull channel therefore strong.<\/li>\n\n\n\n<li>The move lasted a long time and is slightly climactic.<\/li>\n\n\n\n<li>The odds slightly favor a minor pullback (likely 2-legged) which may have started this week.<\/li>\n\n\n\n<li>The move up is strong enough for traders to expect at least a small second leg sideways to up to retest the current leg extreme high (Jul 17) after the pullback.<\/li>\n\n\n\n<li>However, if the bears get strong consecutive bear bars, it could swing the odds in favor of the bear leg beginning.<\/li>\n\n\n\n<li>The market is trading around the upper third of the trading range which can be the sell zone of trading range traders.<\/li>\n\n\n\n<li>The bear trendline is an area of resistance.<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until\u00a0there is\u00a0a\u00a0breakout with follow-through selling\/buying.<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/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 candlestick was a EURUSD bear doji testing the triangle top. The bears want a reversal from a wedge bear flag from around the top of the triangle pattern. If there is a pullback, the bulls want at least a small second leg sideways to up to retest the current [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":213256,"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":"","_genesis_layout":"","footnotes":""},"categories":[1842,136],"tags":[281],"class_list":{"0":"post-213106","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"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/EURUSD-Weekly-Bear-Doji-at-Resistance.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\/213106","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=213106"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/213106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/213256"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=213106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=213106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=213106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}