EURUSD Forex market <\/h2>\n\n\n\nThe Weekly<\/em> EURUSD chart<\/h3>\n\n\n\n![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-Bulls-Triggered-H2-Buy-Signal-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s candlestick on the weekly EURUSD Forex chart<\/a> was a bull bar closing near the high.<\/li>
- Last week, we said that the EURUSD is forming a small trading range between 0.95 and 1.00. <\/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. This will take them to the year 2000 low.<\/li>
- The move down is in a tight bear channel. That means strong bears. <\/li>
- The bear trend has also lasted a long time and is climactic.<\/li>
- While the breakout below the July-August low in September was strong, the bears failed to get follow-through selling.<\/li>
- The bears hope the last few weeks were simply a pullback and want at least a retest of Sept low.<\/li>
- If next week trades higher, they want the EURUSD to stall and reverse lower again, forming a double top bear flag with October 4 high or around the bear trend line.<\/li>
- The bulls hope that the recent 10-week trading range (July to Sept) is the final flag of the move. <\/li>
- They want a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and a trend channel line overshoot.<\/li>
- The bulls will need to create strong consecutive bull bars closing near their highs, breaking far above the bear trend line and 20-week exponential moving average, to convince traders that a larger sideways to up pullback may be underway.<\/li>
- The bulls triggered the second entry long (High 2) this week\u2019s high and got a strong entry bar closing near its high. <\/li>
- The bulls kept failing to get sustained follow-through buying, a recurring theme since the selloff started in 2021. <\/li>
- Will they be able to get follow-through buying next week by closing as a strong consecutive bull bar? If they do, it could signal a potential change in the character of the market.<\/li>
- Since this week was a bull bar closing near the high, it is a good buy signal bar for next week.<\/li>
- Odds slightly favor the EURUSD to trade at least slightly above this week\u2019s high.<\/li>
- The EURUSD is in a small trading range between 0.95 and 1.00. A trading range means an area of balance between the bulls and the bears.<\/li>
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>
- The 20-week exponential moving average and bear trend line remains resistances above.<\/li><\/ul>\n\n\n\n
The Daily<\/em> EURUSD chart<\/h3>\n\n\n\n![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Higher-Low-MTR-2nd-Leg-Up-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- The EURUSD traded sideways to up for the week closing above the 20-day exponential moving average on Friday.<\/li>
- Last week, we said that the EURUSD is forming a trading range between 0.95 – 1.00 and traders will BLSH (Buy Low, Sell High) within this range until there is a strong breakout from either direction.<\/li>
- The bulls want a failed breakout below the 7-year trading range.<\/li>
- They hope that the recent 10-week trading range pullback (July to Sept) is the final flag of the move down which started in February. <\/li>
- The bulls want a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and trend channel line overshoot following a sell climax.<\/li>
- However, they have not been able to create sustained follow-through buying, a recurring theme since 2021.<\/li>
- The bulls see the current pullback (October 13) simply as a retest of the September low and want a reversal higher from a higher low major trend reversal.<\/li>
- The bulls will need to create strong consecutive bull bars closing near their highs, breaking far above the 20-day exponential moving average and bear trend line, to convince traders that a larger 2-legged sideways to up pullback lasting many weeks may be underway.<\/li>
- At the very least, they want a small second leg sideways to up retesting of October 4 high.<\/li>
- The bears want a continuation down and a measured move down based on the height of the 7-year trading range. That would take them to the year 2000 low.<\/li>
- The bears want another leg lower retesting the Sept low followed by a strong breakout with follow-through selling. <\/li>
- However, this week, they failed to create follow-through selling.<\/li>
- They hope that the current move is simply a pullback and want reversal lower from a double top bear flag (with October 4 high) to re-test the Sept low.<\/li>
- Since Friday was a bull bar closing near the high, it is a buy signal bar for Monday.<\/li>
- Odds favor the EURUSD to trade at least slightly higher next week.<\/li>
- The EURUSD is forming a trading range between 0.95 and 1.00. <\/li>
- Traders will BLSH (Buy Low, Sell High) within this range until there is a strong breakout from either direction.<\/li>
- The bear trend line remains as resistance above.<\/li><\/ul>\n\n\n\n
Market analysis reports archive<\/h3>\n\n\n\n
![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Weekly-Bulls-Triggered-H2-Buy-Signal.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s candlestick on the weekly EURUSD Forex chart<\/a> was a bull bar closing near the high.<\/li>
- Last week, we said that the EURUSD is forming a small trading range between 0.95 and 1.00. <\/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. This will take them to the year 2000 low.<\/li>
- The move down is in a tight bear channel. That means strong bears. <\/li>
- The bear trend has also lasted a long time and is climactic.<\/li>
- While the breakout below the July-August low in September was strong, the bears failed to get follow-through selling.<\/li>
- The bears hope the last few weeks were simply a pullback and want at least a retest of Sept low.<\/li>
- If next week trades higher, they want the EURUSD to stall and reverse lower again, forming a double top bear flag with October 4 high or around the bear trend line.<\/li>
- The bulls hope that the recent 10-week trading range (July to Sept) is the final flag of the move. <\/li>
- They want a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and a trend channel line overshoot.<\/li>
- The bulls will need to create strong consecutive bull bars closing near their highs, breaking far above the bear trend line and 20-week exponential moving average, to convince traders that a larger sideways to up pullback may be underway.<\/li>
- The bulls triggered the second entry long (High 2) this week\u2019s high and got a strong entry bar closing near its high. <\/li>
- The bulls kept failing to get sustained follow-through buying, a recurring theme since the selloff started in 2021. <\/li>
- Will they be able to get follow-through buying next week by closing as a strong consecutive bull bar? If they do, it could signal a potential change in the character of the market.<\/li>
- Since this week was a bull bar closing near the high, it is a good buy signal bar for next week.<\/li>
- Odds slightly favor the EURUSD to trade at least slightly above this week\u2019s high.<\/li>
- The EURUSD is in a small trading range between 0.95 and 1.00. A trading range means an area of balance between the bulls and the bears.<\/li>
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>
- The 20-week exponential moving average and bear trend line remains resistances above.<\/li><\/ul>\n\n\n\n
The Daily<\/em> EURUSD chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- The EURUSD traded sideways to up for the week closing above the 20-day exponential moving average on Friday.<\/li>
- Last week, we said that the EURUSD is forming a trading range between 0.95 – 1.00 and traders will BLSH (Buy Low, Sell High) within this range until there is a strong breakout from either direction.<\/li>
- The bulls want a failed breakout below the 7-year trading range.<\/li>
- They hope that the recent 10-week trading range pullback (July to Sept) is the final flag of the move down which started in February. <\/li>
- The bulls want a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and trend channel line overshoot following a sell climax.<\/li>
- However, they have not been able to create sustained follow-through buying, a recurring theme since 2021.<\/li>
- The bulls see the current pullback (October 13) simply as a retest of the September low and want a reversal higher from a higher low major trend reversal.<\/li>
- The bulls will need to create strong consecutive bull bars closing near their highs, breaking far above the 20-day exponential moving average and bear trend line, to convince traders that a larger 2-legged sideways to up pullback lasting many weeks may be underway.<\/li>
- At the very least, they want a small second leg sideways to up retesting of October 4 high.<\/li>
- The bears want a continuation down and a measured move down based on the height of the 7-year trading range. That would take them to the year 2000 low.<\/li>
- The bears want another leg lower retesting the Sept low followed by a strong breakout with follow-through selling. <\/li>
- However, this week, they failed to create follow-through selling.<\/li>
- They hope that the current move is simply a pullback and want reversal lower from a double top bear flag (with October 4 high) to re-test the Sept low.<\/li>
- Since Friday was a bull bar closing near the high, it is a buy signal bar for Monday.<\/li>
- Odds favor the EURUSD to trade at least slightly higher next week.<\/li>
- The EURUSD is forming a trading range between 0.95 and 1.00. <\/li>
- Traders will BLSH (Buy Low, Sell High) within this range until there is a strong breakout from either direction.<\/li>
- The bear trend line remains as resistance above.<\/li><\/ul>\n\n\n\n
Market analysis reports archive<\/h3>\n\n\n\n