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. […]
No EURUSD Follow-through Buying
Market Overview: EURUSD Forex There was no EURUSD follow-through buying on the weekly chart. Is this simply a pullback to be followed by another leg up completing the wedge pattern (with the first two legs being February 22 and March 8), or is the market forming a lower high major trend reversal? Traders will see […]
EURUSD Two-Legged Pullback
Market Overview: EURUSD Forex The weekly chart formed a EURUSD two-legged pullback, closing above the 20-week EMA. The bulls need to create a follow-through bull bar to increase the odds of the bull leg resuming. The bears want the 20-week EMA to act as resistance and a reversal from a lower high major trend reversal. […]
EURUSD Doji
Market Overview: EURUSD Forex The monthly chart formed a EURUSD doji in the middle of the trading range and at the 20-month EMA. The bulls want the 20-month EMA to act as support. The bears will need to create follow-through selling below the 20-month EMA to increase the odds of a retest of the October […]
Minor Pullback on EURUSD
Market Overview: EURUSD Forex This week formed a minor pullback on the EURUSD weekly chart. The bulls need consecutive bull bars closing near their highs, trading above the 20-week EMA to increase the odds of the bull leg resuming. The bears want the 20-week EMA to act as resistance followed by at least a small […]
EURUSD Outside Doji
Market Overview: EURUSD Forex The weekly candlestick was a EURUSD outside doji, stalling around the December 8 low area. The bulls want a reversal from a double bottom bull flag (Dec 8 and Feb 14). The bears want the 20-week EMA to act as resistance followed by at least a small leg sideways to down […]
EURUSD Weak High 2 Setup
Market Overview: EURUSD Forex The weekly chart formed a EURUSD weak High 2 setup because it is following a tight bear channel. The bulls want a reversal from a double bottom bull flag (Dec 8 and Feb 6). The bears want a retest of the Feb 6 low followed by a breakout below. EURUSD Forex […]
EURUSD Trading Range
Market Overview: EURUSD Forex The monthly chart formed a EURUSD trading range closing as an inside bear bar. The bears need to create a follow-through bear bar closing below the 20-month EMA to increase the odds of reaching the October low. The bulls want the 20-month EMA to act as support. EURUSD Forex market The […]
EURUSD High 2 Buy Setup, Bulls Need Strong Entry
Market Overview: EURUSD Forex The weekly chart formed a EURUSD high 2 buy setup trading slightly above the 20-week EMA. The bulls need a strong bull entry bar with follow-through buying to increase the odds of the bull leg resuming. The bears need to create a few strong consecutive bear bars closing below the 20-week […]
EURUSD Tested the 20-Week EMA
Market Overview: EURUSD Forex The weekly chart: the EURUSD tested the 20-week EMA in a two-legged pullback. The bears 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. The bulls want the 20-week EMA to act as support, followed by a […]