{"id":167932,"date":"2023-01-08T01:30:00","date_gmt":"2023-01-08T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=167932"},"modified":"2023-01-08T01:35:42","modified_gmt":"2023-01-08T09:35:42","slug":"eurusd-weak-bear-bar-pb","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-weak-bear-bar-pb\/","title":{"rendered":"EURUSD Weak Bear Bar, Need Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The\u00a0<strong>EURUSD\u00a0<\/strong>Forex was a EURUSD weak bear bar on the weekly chart. The bears want this to be the start of a two-legged sideways-to-down pullback. They will need to create follow-through selling next week. The bulls want any pullback to be sideways and not deep.\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\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar-680x383.png\" alt=\"EURUSD Weak Bear Bar with Long Tail Below and Pullback on Weekly Chart\" class=\"wp-image-168074\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar.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 bear bar with a long tail below.<\/li>\n\n\n\n<li>Last week, we said that while odds continue to slightly favor sideways to up, the wedge pattern increases the odds that we will see at least a small pullback beginning within a couple of weeks.&nbsp;<\/li>\n\n\n\n<li>The bulls got a failed breakout below the 7-year trading range.&nbsp;<\/li>\n\n\n\n<li>The move up is in a tight bull channel. That means strong bulls.<\/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 have also broken above the major bear trend line with follow-through buying.&nbsp;<\/li>\n\n\n\n<li>The strong move up increases the odds of at least a small second leg sideways to up after a pullback.&nbsp;<\/li>\n\n\n\n<li>The bulls want any pullback to be sideways and not deep.<\/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.<\/li>\n\n\n\n<li>Will the bears be able to create follow-through selling now?<\/li>\n\n\n\n<li>The bears want a reversal lower from a double top bear flag (May 30 and Jan 2) and a lower high around May\/June high. They also have a wedge pattern (Nov 15, Dec 5 and Dec 15).<\/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.\u00a0<\/li>\n\n\n\n<li>December 30 and January 2 formed a micro double top.<\/li>\n\n\n\n<li>The bears hope that this week is the start of a two-legged sideways to down lasting at least a few weeks.<\/li>\n\n\n\n<li>The first targets for the bears are the 20-week exponential moving average and the November 21 low which is the start of the channel.<\/li>\n\n\n\n<li>Since this week was a bear bar with a long tail below, it is a weaker sell signal bar.<\/li>\n\n\n\n<li>The bears will need to create a strong follow-through bear bar to increase the odds of lower prices.<\/li>\n\n\n\n<li>While the move up since October is strong, it has lasted a long time and is climactic.<\/li>\n\n\n\n<li>The wedge pattern increases the odds that we will see at least a small pullback beginning within a couple of weeks. It may have begun this week.<\/li>\n\n\n\n<li>Odds slightly favor sideways to down movements in the next few weeks to relieve the overbought conditions.<\/li>\n\n\n\n<li>Traders will see if the pullback phase is weak or strong. If the pullback is weak and sideways, the odds of another strong leg-up increase.<\/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\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High-680x383.png\" alt=\"EURUSD Daily: Start Pullback \u2013 Weak So Far, Retest High?\" class=\"wp-image-168077\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/EURUSD-Daily-Start-Pullback-\u2013-Weak-So-Far-Retest-High.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded lower early in the week followed by a sideways trading range around the 20-day exponential moving average.<\/li>\n\n\n\n<li>Previously, we said that the wedge pattern increases the odds of a pullback.<\/li>\n\n\n\n<li>So far, the EURUSD has moved sideways since the wedge.<\/li>\n\n\n\n<li>The bulls got a failed breakout below the 7-year trading range. The spike &amp; channel up is a change in the market\u2019s character.&nbsp;<\/li>\n\n\n\n<li>They hope that the market has flipped into Always In Long.<\/li>\n\n\n\n<li>Bulls want a retest of the December 15 high and a breakout above. They want a continuation of the tight bull channel up.<\/li>\n\n\n\n<li>They want any pullback to be sideways and not deep. If they get a weak and shallow pullback, the odds of another strong leg-up increase.<\/li>\n\n\n\n<li>If there is a deep pullback, the bulls want a reversal from a higher low major trend reversal and a larger second leg sideways to up.<\/li>\n\n\n\n<li>The bears see the move up as a deep pullback from the February selloff.<\/li>\n\n\n\n<li>They want a reversal lower from a double top bear flag (May 30 and December 15) and a wedge top (Nov 15, Dec 5, and Dec 15). They also have a small double top (December 15 and January 2).<\/li>\n\n\n\n<li>The next target for the bears is the November 21 low which is the start of the bull channel.<\/li>\n\n\n\n<li>The bears need to create strong consecutive bear bars closing near their lows to increase the odds of lower prices.<\/li>\n\n\n\n<li>While this week could be the start of the pullback, the overlapping bars indicate that the bears are not yet strong.<\/li>\n\n\n\n<li>Since Friday was an outside bull bar, it is not a strong sell signal bar for Monday.&nbsp;<\/li>\n\n\n\n<li>It increases the odds that the EURUSD may trade at least a little higher early next week.<\/li>\n\n\n\n<li>Traders will see if the bears can get at least another small second leg sideways to down, or if next week retest January 2 high and breaks out above.<\/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\u00a0EURUSD\u00a0Forex was a EURUSD weak bear bar on the weekly chart. The bears want this to be the start of a two-legged sideways-to-down pullback. They will need to create follow-through selling next week. The bulls want any pullback to be sideways and not deep.\u00a0 EURUSD Forex market The Weekly EURUSD chart [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":168074,"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-167932","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\/2023\/01\/EURUSD-Weekly-PB-Weak-outside-Bear-Bar.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\/167932","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=167932"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/167932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/168074"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=167932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=167932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=167932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}