{"id":178135,"date":"2023-05-14T01:30:00","date_gmt":"2023-05-14T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=178135"},"modified":"2023-05-13T23:09:25","modified_gmt":"2023-05-14T06:09:25","slug":"eurusd-big-bear-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-big-bear-bar\/","title":{"rendered":"EURUSD Big Bear Bar"},"content":{"rendered":"\n<p>The\u00a0<strong>EURUSD\u00a0<\/strong>Forex formed a EURUSD big bear bar on the weekly chart. It is likely the start of the pullback phase following the bull&#8217;s repeated failed breakout above the February 2 high. The next targets for the bears are the 20-week exponential moving average and the March low. The bulls hope the 20-week exponential moving average will act as support.\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\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA-680x383.png\" alt=\"EURUSD Big Bear Bar \u2013 Start of PB to 20-EMA on Weekly Chart\" class=\"wp-image-178335\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA.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\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>\u00a0was a EURUSD big bear bar closing at its low.<\/li>\n\n\n\n<li>Previously, we said that the wedge and micro double top increase the odds that we may see a minor pullback begin at any moment. Odds will continue to slightly favor sideways to up until the bears can create credible selling pressure.<\/li>\n\n\n\n<li>This week was a strong bear bar and likely is the start of the pullback phase.<\/li>\n\n\n\n<li>The move up from March 15 was in a tight bull channel which means strong bulls.&nbsp;<\/li>\n\n\n\n<li>The bulls got breakouts above February 2 high in April and May 3 times (a wedge \u2013 Apr 14, Apr 26, and May 3) but did not get sustained follow-through buying.<\/li>\n\n\n\n<li>When the market does something a few times and fails, it will then do the opposite. The EURUSD stalled and is pulling back this week.<\/li>\n\n\n\n<li>The bulls hope to get at least a retest of the April high after the current pullback.<\/li>\n\n\n\n<li>They want the 20-week exponential moving average to act as support.&nbsp;<\/li>\n\n\n\n<li>If the EURUSD trades much lower, they want a reversal up from a double-bottom bull flag with the March low.&nbsp;<\/li>\n\n\n\n<li>They want another big leg up completing the wedge pattern with the first two legs being February 2 and April 26.<\/li>\n\n\n\n<li>The bears want a reversal down from a higher high major trend reversal.&nbsp;<\/li>\n\n\n\n<li>This week, they got a strong move down from a wedge (Mar 23, Apr 14, and Apr 26) and a micro double top (Apr 14, Apr 26, and May 3).&nbsp;<\/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 bears hope that the prior strong move up is simply a buy vacuum retest of the February 2 high.<\/li>\n\n\n\n<li>Since this week was a big bear bar closing near its low, it is a good sell signal bar for next week.<\/li>\n\n\n\n<li>The bears will need to create follow-through selling breaking far below the 20-week exponential moving average to increase the odds of a deeper pullback.<\/li>\n\n\n\n<li>The next target for the bears is the 20-week exponential moving average.<\/li>\n\n\n\n<li>For now, odds slightly favor the EURUSD to trade at least a little lower, possibly testing the 20-week exponential moving average.<\/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\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB-680x383.png\" alt=\"EURUSD Daily: No FT above TR High, Start PB\" class=\"wp-image-178338\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-No-FT-above-TR-High-Start-PB.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 for the week.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-pullback-after-bull-micro-channel\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously, we said that the wedge top<\/a> near the trading range high increases the odds of a pullback which can begin at any moment.\u00a0<\/li>\n\n\n\n<li>This week was likely the start of the pullback phase, and the bears got a strong first leg down this week.<\/li>\n\n\n\n<li>The bears want a reversal down from a higher high major trend reversal (with Feb high), a wedge (Mar 23, April 4, and April 14) and a micro wedge (April 14, April 26, and May 3).<\/li>\n\n\n\n<li>The bears got a tight channel down breaking far below the 20-day exponential moving average.<\/li>\n\n\n\n<li>The move down is strong enough for traders to expect at least a small second leg sideways to down.<\/li>\n\n\n\n<li>Traders expect at least TBTL (Ten Bars, Two Legs) in the pullback phase.<\/li>\n\n\n\n<li>The bulls hope the pullback will form a higher low.&nbsp;<\/li>\n\n\n\n<li>They want another leg up completing the wedge pattern with the first two legs being February 2 and April 26.<\/li>\n\n\n\n<li>At the very least, they want a small leg retesting the current extreme high (April 26) after the pullback.<\/li>\n\n\n\n<li>If the EURUSD trades much lower, they want a reversal up from a larger double-bottom bull flag with the March low.<\/li>\n\n\n\n<li>Since Friday was a bear bar closing near the low, it is a sell signal bar for Monday.<\/li>\n\n\n\n<li>For now, odds slightly favor the EURUSD to be in the pullback phase, and for a second leg sideways to down after a small pullback.<\/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>The\u00a0EURUSD\u00a0Forex formed a EURUSD big bear bar on the weekly chart. It is likely the start of the pullback phase following the bull&#8217;s repeated failed breakout above the February 2 high. The next targets for the bears are the 20-week exponential moving average and the March low. The bulls hope the 20-week exponential moving average [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":178335,"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],"class_list":{"0":"post-178135","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":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Weekly-Big-Bear-Bar-\u2013-Start-of-PB-to-20-EMA.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\/178135","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=178135"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/178135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/178335"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=178135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=178135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=178135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}