{"id":225777,"date":"2024-12-22T01:30:00","date_gmt":"2024-12-22T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=225777"},"modified":"2024-12-22T00:15:52","modified_gmt":"2024-12-22T08:15:52","slug":"eurusd-retest-the-recent-low","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/eurusd-retest-the-recent-low\/","title":{"rendered":"EURUSD Retest the Recent Low"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The EURUSD retest the recent low (Nov 22) this week. The bears want a strong breakout and measured move based on the height of the trading range. The bulls want a reversal from a large double bottom bull flag (Oct 3 and Nov 22), a higher low major trend reversal and a small double bottom (Nov 22 and Dec 20).<\/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\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO-680x383.jpg\" alt=\"EURUSD Weekly - Retest Low, Double Bottom, Bears Want BO, EURUSD Retest the Recent Low\" class=\"wp-image-225906\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO.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 slightly below the middle of its range with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-retest-of-the-recent-low\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls could create another leg higher (a two-legged pullback) or if the bears could create a follow-through bear bar. The odds still slightly favor at least a small sideways to down leg after the pullback.<\/li>\n\n\n\n<li>Previously, the bears got a strong bear leg breaking below the trading range low.<\/li>\n\n\n\n<li>They expect to get (at least) a small sideways to down leg to retest the recent extreme low (Nov 22) after the pullback. They got it this week.<\/li>\n\n\n\n<li>They want a strong breakout and measured move based on the height of the trading range.<\/li>\n\n\n\n<li>They want another strong leg down completing the wedge pattern (the first two legs being Oct 23 and Nov 22).<\/li>\n\n\n\n<li>They must continue to create follow-through selling to increase the odds of a breakout below the trading range.<\/li>\n\n\n\n<li>The bulls see the move to the November 22 low as a sell vacuum and a bear leg within a trading range.<\/li>\n\n\n\n<li>They want a failed breakout and the trading range low to act as support followed by a retest of the middle of the trading range (around the 20-week EMA).<\/li>\n\n\n\n<li>They see this week as a retest of the prior leg&#8217;s extreme low.<\/li>\n\n\n\n<li>They want a reversal from a large double bottom bull flag (Oct 3 and Nov 22), a higher low major trend reversal and a small double bottom (Nov 22 and Dec 20).<\/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 with a long tail below, it can be a sell signal bar albeit weaker (prominent tail below).<\/li>\n\n\n\n<li>Traders will see if the bears can create a breakout below the November 22 low with follow-through selling.<\/li>\n\n\n\n<li>Or will the market stall around the November 22 low area and trade higher instead?<\/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>The market is trading around the lower third of the trading range which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The EURUSD is in a 110-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\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom-680x383.jpg\" alt=\"EURUSD Daily - Retest Low, Bears Want BO, Double Bottom\" class=\"wp-image-225909\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Daily-Retest-Low-Bears-Want-BO-Double-Bottom.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 higher on Tuesday but reversed into a bear bar. Wednesday formed a big bear bar testing near the November 22 low. There was no follow-through selling on Thursday and Friday.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-retest-of-the-recent-low\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said because of the strong move down, the odds slightly favor at least a small sideways to down leg to retest the November 22 low after the pullback, even if it forms a higher low.<\/li>\n\n\n\n<li>Previously, the bears got a strong bear leg breaking below the trading range low.<\/li>\n\n\n\n<li>They saw the recent move as a breakout pullback. They wanted the 20-day EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>They expect to get at least a small second leg sideways to down to retest the recent leg extreme low (Nov 22). They got what they wanted.<\/li>\n\n\n\n<li>The bears want a breakout and a measured move down based on the height of the trading range.<\/li>\n\n\n\n<li>They want the third led down completing the wedge pattern (with the first two legs being Oct 23 and Nov 22).<\/li>\n\n\n\n<li>They see Thursday and Friday as a pullback and hope to get at least a small second leg sideways to down to retest the December 12 low.<\/li>\n\n\n\n<li>They must create sustained follow-through selling to increase the odds of lower prices.<\/li>\n\n\n\n<li>The bulls see the move down to the November 22 low as a sell vacuum and a bear leg testing the trading range low.<\/li>\n\n\n\n<li>They want a failed breakout and hope that the trading range low will act as support.<\/li>\n\n\n\n<li>They see the current move as a retest of the prior low (Nov 22).<\/li>\n\n\n\n<li>They want reversal from a small double bottom (Nov 22 and Dec 12), a wedge pattern (Oct 23, Nov 22, and Dec 13) and a higher low major trend reversal.<\/li>\n\n\n\n<li>They must create consecutive bull bars closing near their highs trading far above the 20-day EMA and the bear trend line to indicate they are back in control.<\/li>\n\n\n\n<li>Wednesday was a big bear bar testing the November 22 low. The lack of follow-through selling indicates that the bears are not as strong as they hope to be.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create a retest and breakout below the November 22 low with follow-through selling.<\/li>\n\n\n\n<li>Or will the market stall around the current levels and trade higher instead?<\/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>Most breakouts from trading ranges fail and odds favor the trading range to continue.<\/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 EURUSD retest the recent low (Nov 22) this week. The bears want a strong breakout and measured move based on the height of the trading range. The bulls want a reversal from a large double bottom bull flag (Oct 3 and Nov 22), a higher low major trend reversal and [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":225906,"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-225777","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\/12\/EURUSD-Weekly-Retest-Low-Double-Bottom-Bears-Want-BO.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\/225777","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=225777"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/225777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/225906"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=225777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=225777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=225777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}