Market Overview: EURUSD Forex The EURUSD Forex bulls want a EURUSD failed breakout below the 7-year trading range low. This week spiked up and closed slightly above the 7-year trading range low. They will need to create a follow-through bar to increase the odds of higher prices. The bears see this week as a breakout test of […]
EURUSD Inside Bar Breakout Mode on Monthly Chart
Market Overview: EURUSD Forex The EURUSD Forex market formed an EURUSD inside bar on the Monthly chart and is in breakout mode. On the weekly chart, EURUSD is in a sideways to up pullback. This week traded lower but reversed back higher. Odds slightly favor the EURUSD to still be in the sideways to up pullback phase. […]
EURUSD H2 Buy Signal, Need Follow-through
The EURUSD Forex bulls triggered the H2 buy signal on the weekly chart. Next week, the bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears hope that the current pullback is simply forming a double top bear flag with October 4 high. The bear trend line and 20-week exponential moving average are resistances above.
EURUSD Weak Follow-through Selling in Small Trading Range
Market Overview: EURUSD Forex EURUSD weak follow-through selling this week. Bears hope that this is simply a pullback and want at least another small leg down testing the Sept low. Bulls hope this is a higher low and wants a second leg sideways to up. The EURUSD is forming a small trading range around 0.95 […]
EURUSD Bulls Failed to Create Follow-through Buying Again
Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick was a bear reversal bar. The EURUSD bulls failed to create follow-through buying again, a recurring theme since 2021. The bears want a retest of the September low and another breakout attempt. The bulls hope that this is simply a retest of the low and want a reversal […]
EURUSD Weak Bear Bar with Long Tail Below
Market Overview: EURUSD Forex The EURUSD Forex monthly candlestick was another EURUSD weak bear bar after breaking below the 7-year trading range low. There is now a micro wedge (July, Aug and Sept) on the monthly chart. Bulls want a larger 2-legged sideways to up pullback before the EURUSD trades lower. The problem with the […]
EURUSD Big Bear Breakout below Sept Low
The EURUSD Forex broke out below Sept low with strength. The bears want a persistent trend down towards the year 2000 low. If the bears start getting consecutive bear bars closing near the low, the odds of this increase. The bulls will need to create strong consecutive bull bars closing near their highs to create a failed breakout soon.
EURUSD Weak Bear Bar after Testing Bear Trend Line
The EURUSD Forex was a weak bear bar with tail above and below. The bulls failed to create a consecutive bull bar on the weekly chart. The bulls hope that this week was simply a pullback and wants at least a small second leg sideways to up closing above the bear trend line. The bears will need to create a follow-through bear bar to increase the odds of the EURUSD trading lower.
EURUSD Traded below August Low
The EURUSD Forex traded below the August low but reversed into an outside bull bar on the weekly chart. So far, the bears have not been able to create follow-through selling below the July low. The bulls will need to create a consecutive bull bar next week to increase the odds of a larger 2-legged sideways to up lasting many weeks.
EURUSD Consecutive Bear Bars below 7-Year Trading Range
The EURUSD Forex monthly candlestick was a consecutive bear bar below the 7-year trading range low. The long tails below July and August candlesticks indicate that the bears are not as strong as they could have been. Bears want a breakout below the 7-year trading range low followed by a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low. The bulls want a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and August 23).