{"id":165326,"date":"2022-11-27T01:30:00","date_gmt":"2022-11-27T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=165326"},"modified":"2022-11-27T02:04:03","modified_gmt":"2022-11-27T10:04:03","slug":"eurusd-reversed-into-bull-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-reversed-into-bull-bar\/","title":{"rendered":"EURUSD Pullback but Reversed into Bull Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p><strong>EURUSD\u00a0<\/strong>Forex pullback slightly on the weekly chart but reversed into bull bar. The bears failed to get follow-through selling. The move-up is in a tight bull channel. That means strong bulls. Odds continue to favor the EURUSD to trade at least a little higher. Because of the strong move up, the bears will need a strong reversal bar or at least a micro double top before they would be willing to sell aggressively.\u00a0<\/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\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below-680x383.png\" alt=\"EURUSD Pullback but Reversed into Bull Bar\" class=\"wp-image-165465\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<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 a bull bar with a long tail below and a prominent tail above.<\/li>\n\n\n\n<li>Last week, we said that while we may see some pullback, odds continue to favor the EURUSD to still be in the larger sideways to up pullback phase.<\/li>\n\n\n\n<li>The EURUSD traded below last week\u2019s low but reversed into a bull bar closing in the upper half of the week\u2019s range.<\/li>\n\n\n\n<li>The bulls hope that the 10-week trading range (July to Sept) is the final flag of the selloff.&nbsp;<\/li>\n\n\n\n<li>They got a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and a trend channel line overshoot.&nbsp;<\/li>\n\n\n\n<li>They want a failed breakout below the 7-year trading range. This week closed back above the 7-year trading range low following last week\u2019s pullback.<\/li>\n\n\n\n<li>The bulls see the last 2 week simply as a pullback and hope to get another strong leg up.<\/li>\n\n\n\n<li>Previously, the bulls kept failing to get sustained follow-through buying since 2021.<\/li>\n\n\n\n<li>Since the September low, the bull has created bigger bull bodies and closes near their highs with follow-through buying, while the bear bars are weak with no follow-through selling. It is a change in the market\u2019s character.<\/li>\n\n\n\n<li>The bulls need to create more consecutive bull bars closing near their highs, breaking far above the major bear trend line to increase the odds that the selloff has ended.\u00a0<\/li>\n\n\n\n<li>The bears want a reversal lower from a lower high around the major bear trend line.&nbsp;<\/li>\n\n\n\n<li>They then want a retest of the September low followed by a breakout 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>\n\n\n\n<li>The bears hope the EURUSD is forming a failed breakout above a wedge bear flag (Oct 4, Oct 27, and Nov 11).&nbsp;<\/li>\n\n\n\n<li>If next week trades higher, they want the EURUSD to reverse lower from a double top bear flag (with Jun 27 or May 30 high) or around the major bear trend line.<\/li>\n\n\n\n<li>They see the current move up as a breakout test of the 7-year trading range low.<\/li>\n\n\n\n<li>Because of the strong move up, the bears will need a strong reversal bar, or at least a micro double top before they would be willing to sell aggressively.<\/li>\n\n\n\n<li>Since this week was a bull bar closing in the upper half of the range, it is a buy signal bar for next week.<\/li>\n\n\n\n<li>The bull bars in the last 9 weeks are bigger with closes near their highs as compared with the weak bear bars with poor follow-through selling. The move-up is in a tight bull channel.<\/li>\n\n\n\n<li>For now, odds continue to slightly favor the EURUSD to trade at least a little higher.<\/li>\n\n\n\n<li>Next week, traders will see if the bulls get a follow-through bull bar or if the EURUSD trades higher but reverses into a bear bar or has a long tail above. <\/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\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top-680x383.png\" alt=\"EURUSD Daily: Small PB, Double Top\" class=\"wp-image-165468\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Small-PB-Double-Top.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Monday resumed the pullback from last week. The EURUSD then reversed to retest near November 15 high by Thursday. Friday pulled back slightly but reversed to close as a bear doji.<\/li>\n\n\n\n<li>Last week, we said that the move up from Nov 3 is in a tight bull channel. That increases the odds of at least a small second leg sideways to up after a pullback. The bulls got it this week.<\/li>\n\n\n\n<li>The bulls want a failed breakout below the 7-year trading range.&nbsp;<\/li>\n\n\n\n<li>They hope that the 10-week trading range pullback (July to Sept) is the final flag of the move down which started in February.&nbsp;<\/li>\n\n\n\n<li>The bulls got a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and trend channel line overshoot following a sell climax.<\/li>\n\n\n\n<li>Since 2021, they were not able to create sustained follow-through buying. However, the current spike up is a change in the market\u2019s character.&nbsp;<\/li>\n\n\n\n<li>The bulls manage to create consecutive bull bars closing near their highs in a tight bull channel.<\/li>\n\n\n\n<li>They hope that the market has flipped into Always In Long.<\/li>\n\n\n\n<li>If there is a deeper pullback, the bulls want a reversal higher from a higher low major trend reversal.<\/li>\n\n\n\n<li>The bears see the recent spike up as a buy vacuum breakout test of the 7-year trading range.<\/li>\n\n\n\n<li>They want a reversal lower from a double top bear flag (Aug 10 or Jun 27 or May 30) and a smaller double top (Nov 15 and Nov 25) following a parabolic wedge (Nov 8, Nov 11, and Nov 15).<\/li>\n\n\n\n<li>Bear then want a retest of the September low followed by a strong breakout 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>\n\n\n\n<li>The move-up is in a tight bull channel. That means strong bulls.&nbsp;<\/li>\n\n\n\n<li>They will need to create strong consecutive bear bars closing near their lows to increase the odds of a retest of the September low.<\/li>\n\n\n\n<li>The bull bars this week were smaller as compared with the recent spike-up. It is a loss of momentum from the bulls.<\/li>\n\n\n\n<li>For now, odds slightly favor the EURUSD to trade at least a little higher.<\/li>\n\n\n\n<li>The parabolic wedge and double top increase the odds of a deeper pullback within 1 to 3 weeks.&nbsp;<\/li>\n\n\n\n<li>However, odds are the pullback would lead to a higher low major trend reversal and the EURUSD would still be in the larger sideways to up pullback phase.<\/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 EURUSD\u00a0Forex pullback slightly on the weekly chart but reversed into bull bar. The bears failed to get follow-through selling. The move-up is in a tight bull channel. That means strong bulls. Odds continue to favor the EURUSD to trade at least a little higher. Because of the strong move up, the [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":165465,"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":[281,1347],"class_list":{"0":"post-165326","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":"tag-pullback","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Weekly-PB-but-Bull-Bar-with-Long-Tail-Below.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\/165326","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=165326"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/165326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/165465"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=165326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=165326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=165326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}