{"id":223289,"date":"2024-11-17T01:30:00","date_gmt":"2024-11-17T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=223289"},"modified":"2024-11-16T10:55:21","modified_gmt":"2024-11-16T18:55:21","slug":"eurusd-strong-bear-leg","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-strong-bear-leg\/","title":{"rendered":"EURUSD Strong Bear Leg"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a EURUSD strong bear leg testing the trading range low. The bears want a retest of the trading range low followed by a strong breakout below. The bulls see the current move as a sell vacuum and a bear leg within a trading range. They want the trading range low 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\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF-680x383.jpg\" alt=\"EURUSD Weekly - Test Trading Range Low, BO or DB BF, EURUSD Strong Bear Leg\" class=\"wp-image-223420\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF.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 follow-through bear bar closing in its lower half with a small tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-second-leg-sideways-to-down\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said the market may still trade slightly lower to test the June low area. Traders would see if the bears could create a strong follow-through bear bar or if the market will trade slightly lower but reverse to close with a long tail or a bull body instead.<\/li>\n\n\n\n<li>The market broke below the June and April lows testing near the trading range low (Oct).<\/li>\n\n\n\n<li>The bears got a second leg sideways to down following a pullback testing the 20-week EMA.<\/li>\n\n\n\n<li>Next, they want a retest of the trading range low followed by a strong breakout below.<\/li>\n\n\n\n<li>Because of the strong leg down (from Sept), the bears expect to get (at least) a small sideways to down leg to retest the current extreme low (now Nov 14) after a pullback.<\/li>\n\n\n\n<li>The bulls see the current move as a sell vacuum and a bear leg within a trading range.<\/li>\n\n\n\n<li>They want the trading range low to act as support.<\/li>\n\n\n\n<li>If there is a breakout below the October low, they want a failed breakout followed by a retest of the middle of the trading range.<\/li>\n\n\n\n<li>They want a reversal from a large double bottom bull flag (Oct 3 and Nov 14).<\/li>\n\n\n\n<li>They must create consecutive bull bars closing near their highs to indicate that they are back in control.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear bar closing in its lower half, it is a sell signal bar for next week.<\/li>\n\n\n\n<li>The market may still trade slightly lower to test the October low area.<\/li>\n\n\n\n<li>Traders will see if the bears can create a strong follow-through bear bar and a breakout below the trading range low.<\/li>\n\n\n\n<li>Most breakouts from the trading ranges fail and odds favor the trading range to continue.<\/li>\n\n\n\n<li>The market is trading near the trading range low which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The EURUSD is in a 105-week trading range. (Trading range high: July 2023, low: October 2023).\u00a0<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) within a trading range until a\u00a0breakout 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\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum-680x383.jpg\" alt=\"EURUSD Daily - Strong Bear Leg, Sell Vacuum\" class=\"wp-image-223423\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Strong-Bear-Leg-Sell-Vacuum.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 down for the week followed by a weak pullback on Friday.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-second-leg-sideways-to-down\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said the market may still trade slightly lower (probably testing the June low area). Traders would see if the bears could get a strong retest and breakout below the June low or if the market would trade slightly lower but stall around the June or April lows area instead.<\/li>\n\n\n\n<li>The market broke through both the June and April lows, testing near the trading range low.<\/li>\n\n\n\n<li>The bulls see the current move as a sell vacuum and a bear leg test of the trading range low.<\/li>\n\n\n\n<li>They want a reversal from a large double bottom bull flag (Oct 3 and Nov 14).<\/li>\n\n\n\n<li>They hope that the trading range low will act as support.<\/li>\n\n\n\n<li>If the market trades below the October low, they want a failed breakout followed by a reversal to the middle of the trading range.<\/li>\n\n\n\n<li>They must create consecutive bull bars closing near their highs to indicate that they are back in control.<\/li>\n\n\n\n<li>The bears got a strong second leg sideways to down after a pullback.<\/li>\n\n\n\n<li>The move down is in a tight bear channel breaking several support areas. That means strong bears.<\/li>\n\n\n\n<li>Friday broke above a 7-bar bear microchannel. Odds favor sellers above the first pullback from such a strong bear microchannel.<\/li>\n\n\n\n<li>The next target for the bears is the trading range low. They want a strong breakout below the trading range.<\/li>\n\n\n\n<li>If the market trades higher, the bears want the 20-day EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>So far, the bear leg is strong.<\/li>\n\n\n\n<li>The move down while strong, may still only be a sell vacuum within a trading range.<\/li>\n\n\n\n<li>For now, the market may still trade at least a little lower to test the trading range low area.<\/li>\n\n\n\n<li>Traders will see if the bears can continue to create strong follow-through selling, or if there is profit-taking activity around the trading range low area in the weeks ahead.<\/li>\n\n\n\n<li>Most breakouts from trading ranges fail and odds favor the trading range to continue.<\/li>\n\n\n\n<li>Because of the strong move down, odds favor at least a small second leg sideways to down after a pullback.<\/li>\n\n\n\n<li>The low of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until\u00a0a\u00a0breakout 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 market formed a EURUSD strong bear leg testing the trading range low. The bears want a retest of the trading range low followed by a strong breakout below. The bulls see the current move as a sell vacuum and a bear leg within a trading range. They want the trading [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":223420,"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-223289","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\/11\/EURUSD-Weekly-Test-Trading-Range-Low-BO-or-DB-BF.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\/223289","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=223289"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/223289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/223420"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=223289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=223289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=223289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}