{"id":175355,"date":"2023-04-09T01:30:00","date_gmt":"2023-04-09T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=175355"},"modified":"2023-04-08T23:41:28","modified_gmt":"2023-04-09T06:41:28","slug":"eurusd-bull-leg","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-bull-leg\/","title":{"rendered":"EURUSD Bull Leg in Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p><strong>EURUSD\u00a0<\/strong>bull leg currently forming in a trading range. Traders will BLSH (Buy Low, Sell High) within a trading range until there is a strong breakout from either direction with follow-through buying\/selling. The bulls want a strong breakout above the February high. The bears want a reversal lower from a double top with the February high.\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\/04\/EURUSD-Weekly-Double-Top-Retest-February-High.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High-680x383.png\" alt=\"EURUSD Bull Leg, Double Top, Retest February High on Weekly Chart\" class=\"wp-image-175545\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High.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 prominent tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-overlapping-candlesticks\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week, we said that traders<\/a> will see if the bulls can create a strong breakout above the inside bar or will the EURUSD trade slightly higher but fail and close as a bear bar or with a long tail above.<\/li>\n\n\n\n<li>The bulls got a breakout above the inside bar, but the EURUSD closed below the prior 2 candlesticks\u2019 high.<\/li>\n\n\n\n<li>Previously, they got a strong spike and channel up from September 2022 and the market may have flipped into Always In Long.&nbsp;<\/li>\n\n\n\n<li>After a pullback, they got a small second leg sideways to up retesting near February high from a double bottom bull flag (Jan 6 and Mar 15).<\/li>\n\n\n\n<li>The move up since March 15 is in a tight bull channel and the bulls have a 5-bar bull micro channel.&nbsp;<\/li>\n\n\n\n<li>However, the candlesticks have a lot of overlapping price action and the last 3, also candlesticks, have prominent tails above.<\/li>\n\n\n\n<li>The bulls want a strong breakout above February and another strong leg up, possibly retesting February 2022 highs.<\/li>\n\n\n\n<li>For that, they need to create follow-through buying breaking far above the February 2 high.<\/li>\n\n\n\n<li>The bears want a reversal down from a lower high major trend reversal. They see a micro wedge (Mar 23, Mar 30, and Apr 4) forming.<\/li>\n\n\n\n<li>They want a failed breakout from the inside bar and a retest of the March 15 low.&nbsp;<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that the current move-up is in a tight bull channel.<\/li>\n\n\n\n<li>They will need to create a strong sell signal bar before traders will be willing to sell more aggressively.<\/li>\n\n\n\n<li>For now, traders will see if the bulls can get a follow-through bull bar following this week\u2019s breakout above the inside bar.<\/li>\n\n\n\n<li>EURUSD is in a trading range between 1.1 and 1.05. Traders will BLSH (Buy Low, Sell High) within a trading range.<\/li>\n\n\n\n<li>Until there is a strong breakout from either direction with follow-through buying\/selling, the current leg could simply be a bull leg within a trading range.<\/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\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR-680x383.png\" alt=\"EURUSD Daily: Wedge, Larger Double Top MTR\" class=\"wp-image-175548\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Double-Top-MTR.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 higher earlier in the week followed by a sideways to down pullback from Wednesday onwards.&nbsp;<\/li>\n\n\n\n<li>Previously, we said that it may be slightly more helpful to see the current move up from March 15 low as a bull leg within a trading range, which will be followed by a bear leg thereafter.<\/li>\n\n\n\n<li>The bulls got a strong spike &amp; channel up from October.<\/li>\n\n\n\n<li>The move up was strong enough to have flipped the market into Always In Long.&nbsp;<\/li>\n\n\n\n<li>They then got a larger second leg sideways to up from a double bottom bull flag with January 6 low.&nbsp;<\/li>\n\n\n\n<li>The move-up has a lot of overlapping candlesticks but also in a tight bull channel.&nbsp;<\/li>\n\n\n\n<li>The bulls may still get a small second leg sideways to up after a small pullback.<\/li>\n\n\n\n<li>They want a breakout above the February high and another strong leg up.<\/li>\n\n\n\n<li>The bears see the move up since September as a 50% pullback of the selloff which started in May 2021.<\/li>\n\n\n\n<li>They want a reversal down from a lower high major trend reversal or a double top bear flag (with Feb high).<\/li>\n\n\n\n<li>They see a wedge bear flag (Mar 15, Mar 23, and April 4) forming.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that they have not been able to create strong follow-through selling since March 15.<\/li>\n\n\n\n<li>The bears need to create consecutive bear bars closing near their lows to convince traders of a deeper pullback.<\/li>\n\n\n\n<li>Since the EURUSD is in a trading range between 1.1 and 1.05, traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.<\/li>\n\n\n\n<li>It may be slightly more helpful to see the current move up from March 15 low as a bull leg within a trading range, until there is a strong breakout above February high with follow-through buying.<\/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>Traders will see if the bulls get a retest and breakout above February high or will the EURUSD trade slightly higher but forms a strong sell signal bar with follow-through selling.<\/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\u00a0bull leg currently forming in a trading range. Traders will BLSH (Buy Low, Sell High) within a trading range until there is a strong breakout from either direction with follow-through buying\/selling. The bulls want a strong breakout above the February high. The bears want a reversal lower from a double top [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":175545,"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":[328,281,84],"class_list":{"0":"post-175355","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-forex","8":"category-analysis","9":"tag-double-top","10":"tag-eurusd-forex","11":"tag-trading-range","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Double-Top-Retest-February-High.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\/175355","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=175355"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/175355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/175545"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=175355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=175355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=175355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}