{"id":165767,"date":"2022-12-04T01:30:00","date_gmt":"2022-12-04T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=165767"},"modified":"2022-12-03T23:11:57","modified_gmt":"2022-12-04T07:11:57","slug":"eurusd-strong-bull-breakout","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-strong-bull-breakout\/","title":{"rendered":"EURUSD Strong Bull Breakout above Inside Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The <strong>EURUSD <\/strong>Forex November candlestick was a EURUSD strong bull breakout above an inside bar. It closed back above the 7-year trading range low. The bulls need to break far above the major bear trend line and 20-month exponential moving average to convince traders that a reversal higher is underway. The bears want a reversal lower from a lower high around the major bear trend line or the 20-month exponential moving average.<\/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\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL-680x383.png\" alt=\"EURUSD Strong Bull Breakout - Testing Bear TL on Monthly Chart\" class=\"wp-image-165928\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The November monthly EURUSD candlestick was a big bull bar closing near its high.\u00a0<\/li>\n\n\n\n<li>Last month, we said that the trend channel line overshoot (September) and parabolic wedge bottom (Nov 24, May 13 and Sept 28) increase the odds of at least a small sideways to up pullback lasting a few months. It may have already started in October.<\/li>\n\n\n\n<li>November candlestick broke far above the minor bear trend line and the bull inside bar. It closed above the high of the prior 3 candlesticks.<\/li>\n\n\n\n<li>The bulls want a failed breakout below the 7-year trading range. They got a reversal up from a trend channel line overshoot, parabolic wedge (Nov 24, May 13 and Sept 28) and micro wedge (July, Aug, September).<\/li>\n\n\n\n<li>November was the first consecutive bull bar since May 2021 and closed back above the 7-year trading range low.<\/li>\n\n\n\n<li>Because of the strong bull breakout, odds slightly favor the EURUSD to trade at least a little higher, which it has done so far.<\/li>\n\n\n\n<li>The next target for the bulls is the 20-month exponential moving average which is around the May\/June high.<\/li>\n\n\n\n<li>The bulls need to break far above the major bear trend line and 20-month exponential moving average to convince traders that a reversal higher is underway.<\/li>\n\n\n\n<li>The bears want a reversal lower from a lower high around the major bear trend line, or the 20-month exponential moving average.<\/li>\n\n\n\n<li>They 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, which will take them to the year 2000 low.<\/li>\n\n\n\n<li>While the selloff since June 2021 was very strong, it has also lasted a long time and is climactic.<\/li>\n\n\n\n<li>The trend channel line overshoot (September) and parabolic wedge bottom (Nov 24, May 13 and Sept 28), increase the odds of at least a small sideways to up pullback lasting a few months. The pullback started in October.<\/li>\n\n\n\n<li>For now, odds slightly favor the EURUSD to trade at least slightly higher. Traders will see if the bulls can create a decent follow-through bull bar in December.<\/li>\n\n\n\n<li>December is the last month of the year. Its close will affect the yearly candlestick. Bulls want a close above the middle of the bar around 1.0515 while bears want a close below it.<\/li>\n\n\n\n<li>The midpoint of the year may be a magnet at the end of the month.<\/li>\n<\/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\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars-680x383.png\" alt=\"EURUSD Weekly: 2nd Leg Sideways to Up, Strong Bull Bars\" class=\"wp-image-165931\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Weekly-2nd-Leg-Sideways-to-Up-Strong-Bull-Bars.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 closing near its high.<\/li>\n\n\n\n<li>Last week, we said that odds continue to slightly favor the EURUSD to trade at least a little higher.<\/li>\n\n\n\n<li>The bulls got a follow-through bull bar closing above the prior two candlesticks.<\/li>\n\n\n\n<li>They hope that the 10-week trading range (July to Sept) is the final flag of the selloff.&nbsp;<\/li>\n\n\n\n<li>Bulls got a reversal higher from a wedge bottom (May 13, July 14 and Sept 28) and a trend channel line overshoot.\u00a0<\/li>\n\n\n\n<li>They want a failed breakout below the 7-year trading range. This week was a consecutive close above the 7-year trading range low.<\/li>\n\n\n\n<li>Since the September low, the bulls have created bigger bull bodies with closes near their highs with follow-through buying, while the bear bars are weak with no follow-through selling.\u00a0<\/li>\n\n\n\n<li>The move-up is in a tight bull channel. Odds slightly favor a larger second leg sideways to up after a pullback.<\/li>\n\n\n\n<li>The bulls hope that the market is now Always In Long.&nbsp;<\/li>\n\n\n\n<li>They need to break far above the major bear trend line to increase the odds that the selloff has ended.&nbsp;<\/li>\n\n\n\n<li>The bears want a reversal lower from a lower high around the major bear trend line or around the May high.<\/li>\n\n\n\n<li>They 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. This will take them to the year 2000 low.<\/li>\n\n\n\n<li>The bears hope the EURUSD is forming a parabolic wedge bear flag (Oct 4, Nov 15, and Dec 2).\u00a0<\/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>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 more aggressively.<\/li>\n\n\n\n<li>Since this week was a bull bar closing near its high, it is a good buy signal bar for next week. It is a weak sell signal bar.<\/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 consecutive bull bar breaking far above the major bear trend line or if the EURUSD trades higher but reverses into a bear bar or has a long tail above.&nbsp;<\/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 The EURUSD Forex November candlestick was a EURUSD strong bull breakout above an inside bar. It closed back above the 7-year trading range low. The bulls need to break far above the major bear trend line and 20-month exponential moving average to convince traders that a reversal higher is underway. The [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":165928,"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":[1873,281],"class_list":{"0":"post-165767","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-bull-breakout","10":"tag-eurusd-forex","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Monthly-Strong-Bull-Breakout-Testing-Bear-TL.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\/165767","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=165767"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/165767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/165928"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=165767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=165767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=165767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}