{"id":175977,"date":"2023-04-16T01:30:00","date_gmt":"2023-04-16T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=175977"},"modified":"2023-04-15T22:40:38","modified_gmt":"2023-04-16T05:40:38","slug":"eurusd-tight-bull-channel","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-tight-bull-channel\/","title":{"rendered":"EURUSD Tight Bull Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p><strong>EURUSD<\/strong> tight bull channel up formed testing the February 2 high. The bulls have a 5-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback from such a strong micro channel. The bears want a reversal down from a higher high major trend reversal, but they would need a strong sell signal bar or a micro double top before they would be willing to sell aggressively. <\/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-Tight-Bull-Channel-Wedge-and-MC-Wedge.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge-680x383.png\" alt=\"EURUSD Weekly: Tight Bull Channel, Wedge and MC Wedge\" class=\"wp-image-176141\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge.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>Last week, we said that traders will see if the bulls can get a follow-through bull bar following the breakout above the inside bar.<\/li>\n\n\n\n<li>The bulls got a follow-through bull bar breaking above the February high but closing below it.<\/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. That means persistent bulls.<\/li>\n\n\n\n<li>The last 4 candlesticks have prominent tails above. The bulls are not as strong as they would like to be.<\/li>\n\n\n\n<li>The bulls want a strong breakout above February 2 high 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 current move up is strong enough for traders to expect at least a small second leg sideways to up after a pullback.<\/li>\n\n\n\n<li>The bears want a reversal down from a higher high major trend reversal. They see a wedge (Mar 7, Mar 23, and Apr 14) and a micro wedge (Mar 23, Apr 4, and Apr 14).<\/li>\n\n\n\n<li>They want a failed breakout above the February 2 high 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 with consecutive bull bars.<\/li>\n\n\n\n<li>They will need to create a strong sell signal bar or a micro double top before traders will be willing to sell more aggressively.<\/li>\n\n\n\n<li>For now, odds slightly favor at least a small second leg sideways to up after a pullback. There are usually buyers below such a strong bull micro channel.<\/li>\n\n\n\n<li>The wedge and micro wedge increase the odds that we may see a minor pullback begin at any moment.<\/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 above with follow-through buying, 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-Higher-High-MTR-Tight-Channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel-680x383.png\" alt=\"EURUSD Daily: Wedge, Larger Higher High MTR, Tight Channel\" class=\"wp-image-176159\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Wedge-Larger-Higher-High-MTR-Tight-Channel.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 on Monday but reversed higher to break above February 2 high by Thursday. Friday traded higher but reversed into an outside bear bar.<\/li>\n\n\n\n<li>Last week, we said that the <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-bull-leg\/\" target=\"_blank\" rel=\"noreferrer noopener\">odds slightly favor the EURUSD to trade at least a little higher<\/a>. 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\n\n\n<li>The bulls got a strong spike &amp; channel up from October.&nbsp;<\/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 is in a tight bull channel. That means strong bulls.<\/li>\n\n\n\n<li>They want a breakout above the February 2 high and another strong leg up.<\/li>\n\n\n\n<li>If there is a pullback, the bulls want a larger second leg sideways to up retesting April 15 high.<\/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 higher high major trend reversal (with Feb high).<\/li>\n\n\n\n<li>They also have a wedge pattern (Mar 23, April 4, and April 14).<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that they have not been able to create sustained 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>The 3 consecutive bull bars this week (Tue, Wed, and Thurs) appearing after a prolonged move is climactic.<\/li>\n\n\n\n<li>The wedge bear flag near the top of the trading range increases the odds of a pullback which can begin at any moment.<\/li>\n\n\n\n<li>Since Friday was a bear bar closing near its low, it is a sell signal bar for Monday.<\/li>\n\n\n\n<li>The bears need to create follow-through selling early next week to increase the odds of a deeper pullback.<\/li>\n\n\n\n<li>Traders will see if the bears can create strong follow-through selling, or will the EURUSD trade slightly lower, but resume the leg higher breaking far above the February 2 high.<\/li>\n\n\n\n<li>Can the EURUSD continue higher and break out above February 2 high? Yes. Until the bears can create strong bear bars, odds continue to slightly favor sideways to up.<\/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 tight bull channel up formed testing the February 2 high. The bulls have a 5-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback from such a strong micro channel. The bears want a reversal down from a higher high major trend reversal, but [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":176141,"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":[281,347,1862],"class_list":{"0":"post-175977","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-micro-channel","11":"tag-tight-bull-channel","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Weekly-Tight-Bull-Channel-Wedge-and-MC-Wedge.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\/175977","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=175977"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/175977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/176141"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=175977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=175977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=175977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}