{"id":157115,"date":"2022-07-31T01:30:00","date_gmt":"2022-07-31T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=157115"},"modified":"2022-07-31T01:57:52","modified_gmt":"2022-07-31T08:57:52","slug":"eurusd-below-7-year-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-below-7-year-trading-range\/","title":{"rendered":"EURUSD breaks below 7-year trading range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The&nbsp;<strong>EURUSD&nbsp;<\/strong>Forex July candlestick was a big bear bar with a long tail below. It broke below the 7-year trading range low. The long tail below indicates that the bears are not as strong as they could have been. The bears will need to create a consecutive bear bar to confirm the breakout below the 7-year trading range. The selling has been climactic. The trend channel line overshoot and wedge bottom (November 24, May 13 and July 14) increase the odds of at least a small sideways to up pullback (for a couple of weeks) before the EURUSD continue lower. The pullback may have begun in July.&nbsp;<\/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>Monthly<\/em> EURUSD Forex chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge-680x383.png\" alt=\"EURUSD Forex Monthly Chart Breakout below 7-year Trading Range\" class=\"wp-image-157221\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Monthly-BO-below-7-Year-TR-TCL-Ovs-Wedge.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The July Monthly EURUSD candlestick was a big bear bar with a long tail below. It broke below the 7-year trading range low.<\/li><li>Last month, we said traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction. The bears got the breakout they wanted.<\/li><li>However, the long tail below indicates that the bears are not as strong as they could have been.<\/li><li>The bulls want a failed breakout from the 7-year trading range low and a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and July 14).<\/li><li>However, the bulls have not been able to create strong consecutive bull bars since the sell-off in 2021.<\/li><li>The bulls want at least a test of the breakout point, which is the 2017 low.<\/li><li>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.<\/li><li>The sell-off since June 2021 is in a tight bear channel. That means persistent selling and strong bears.\u00a0<\/li><li>The bears will need to create a consecutive bear bar to confirm the breakout below the 7-year trading range.<\/li><li>The selling has been climactic. The trend channel line overshoot and wedge bottom (November 24, May 13 and July 14) increase the odds of at least a small sideways to up pullback (for a couple of weeks) before the EURUSD continues lower. The pullback may have begun in July.<\/li><\/ul>\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\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test-680x383.png\" alt=\"EURUSD Weekly Chart Sideways to up Pullback Breakout Test\" class=\"wp-image-157224\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>This week\u2019s candlestick on the&nbsp;<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>&nbsp;was an inside bull doji. It closed in the upper half of the bar.<\/li><li>We have said that the odds are the EURUSD is still in the two-legged sideways to up pullback phase. This remains true.<\/li><li>The bears want a strong breakout below the 2017 low and a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low.<\/li><li>They got 2 bear bars closing below 2017 low, increasing the odds of a breakout and a measured move down.<\/li><li>The move down is in a tight bear channel. That means strong bears. Odds slightly favor the EURUSD trading lower after the current pullback.<\/li><li>The bulls hope that the sell-off since March was a sell vacuum test of the 7-year trading range low.&nbsp;<\/li><li>They want a reversal higher from a wedge bottom (Mar 4, May 13 and July 14) and a trend channel line overshoot.<\/li><li>The bulls hope that the recent 10-week trading range is the final flag of the move down which started in 2021.&nbsp;<\/li><li>They want a failed breakout below the 7-year trading range and a test back into the potential 10-week final flag.<\/li><li>The sell-off has been climactic and the wedge bottom and trend channel line overshoot increase the odds of at least a small sideways to up pullback before the EURUSD continue lower.&nbsp;<\/li><li>For now, the EURUSD should still be in the two-legged sideways to up pullback phase.<\/li><\/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>The\u00a0EURUSD\u00a0Forex July candlestick was a big bear bar with a long tail below. It broke below the 7-year trading range low. The long tail below indicates that the bears are not as strong as they could have been. The bears will need to create a consecutive bear bar to confirm the breakout below the 7-year trading range. The selling has been climactic. The trend channel line overshoot and wedge bottom (November 24, May 13 and July 14) increase the odds of at least a small sideways to up pullback (for a couple of weeks) before the EURUSD continue lower. The pullback may have begun in July.\u00a0<\/p>\n","protected":false},"author":2836,"featured_media":157224,"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":[333,1357,281],"class_list":{"0":"post-157115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-breakout","10":"tag-breakout-mode","11":"tag-eurusd-forex","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Weekly-Sideways-to-up-Pullback-BO-Test.png","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/157115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=157115"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/157115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/157224"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=157115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=157115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=157115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}