{"id":180947,"date":"2023-06-18T01:30:00","date_gmt":"2023-06-18T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=180947"},"modified":"2023-06-18T06:36:43","modified_gmt":"2023-06-18T13:36:43","slug":"eurusd-bull-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-bull-follow-through\/","title":{"rendered":"EURUSD Bull Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The <strong>EURUSD <\/strong>Forex weekly candlestick formed a bull follow-through bar trading far above the 20-week exponential moving average. The bulls want a retest of the April high and a breakout above. The bears hope that this week was simply a deep pullback (bounce) and want a retest of the May 31 low.<\/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\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA-680x383.png\" alt=\"EURUSD Weekly: Bull Follow-through Above 20-Week EMA\" class=\"wp-image-181298\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-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&nbsp;<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>&nbsp;was a big bull bar closing near its high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-minor-pullback\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-minor-pullback\/\" rel=\"noreferrer noopener\">Last week, we said<\/a> that odds slightly favor a small second leg sideways to down after the current pullback and traders will see if the bulls can create a follow-through bull bar closing above the 20-week exponential moving average or will sellers sell the first pullback from a tight bear channel.<\/li>\n\n\n\n<li>The bulls got a strong follow-through bull bar trading far above the 20-week exponential moving average.<\/li>\n\n\n\n<li>They hope to get at least a retest of the April high after the recent pullback.<\/li>\n\n\n\n<li>They want the 20-week exponential moving average to act as support and another strong leg up, completing the wedge pattern with the first two legs being February 2 and April 26.<\/li>\n\n\n\n<li>Since this week was a strong follow-through bull bar trading far above the 20-week exponential moving average, the odds of retesting the April high have increased.<\/li>\n\n\n\n<li>The bears got a tight bear channel down to May 31 low. That means strong bears.<\/li>\n\n\n\n<li>They were expecting at least a small second leg sideways to down after the current pullback.<\/li>\n\n\n\n<li>However, instead of a weak pullback (bounce), the EURUSD spiked higher this week.<\/li>\n\n\n\n<li>The bears hope that this is simply a deep pullback and want a retest of the May 31 low.<\/li>\n\n\n\n<li>Since this week was a big bull bar closing near its high, it is a buy signal bar for next week. It is not a strong sell signal bar.<\/li>\n\n\n\n<li>Odds slightly favor the bull channel resuming in the coming weeks, forming a retest of the April high.<\/li>\n\n\n\n<li>If the second leg sideways to down (pullback lower) forms and it is weak (with doji(s), bull bars, and long tails below), it may only become a minor pullback, forming a higher low major trend reversal.<\/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\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long-680x383.png\" alt=\"EURUSD Daily: Bull Spike, Likely Always In Long\" class=\"wp-image-181301\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/EURUSD-Daily-Bull-Spike-Likely-Always-In-Long.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 for the week. Friday traded higher and close as a bear doji.<\/li>\n\n\n\n<li>Previously, we said that odds slightly favor at least a small leg to retest May 31 Low after the current pullback (bounce).<\/li>\n\n\n\n<li>The bulls needed to create consecutive bull bars trading far above the 20-day exponential moving average to increase the odds of a retest of the April High. They got that this week.<\/li>\n\n\n\n<li>They hope that the recent pullback formed a higher low.&nbsp;<\/li>\n\n\n\n<li>They want another strong leg up completing the wedge pattern with the first two legs being February 2 and April 26. The third leg up is likely underway.<\/li>\n\n\n\n<li>At the very least, they want a retest of the prior leg extreme high (April 26).<\/li>\n\n\n\n<li>The spike up this week 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 got a tight bear channel down from the May high. That means persistent bears.<\/li>\n\n\n\n<li>They expect at least a small second leg sideways to down after the current pullback (bounce).<\/li>\n\n\n\n<li>At the very least, the bears want a retest of the recent leg low (May 31).<\/li>\n\n\n\n<li>However, instead of a weak pullback (with overlapping bars, doji(s), and bear bars), the bulls got a strong spike up with follow-through buying trading far above the 20-day exponential moving average.<\/li>\n\n\n\n<li>The bears will need to create strong bear bars with follow-through selling to increase the odds of a retest of the May 31 low.&nbsp;<\/li>\n\n\n\n<li>Since Friday was a small bear doji, it is not a strong sell signal bar.<\/li>\n\n\n\n<li>If there is a pullback, odds slightly favor the pullback to be minor and for at least a second leg sideways to up after the 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>Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick formed a bull follow-through bar trading far above the 20-week exponential moving average. The bulls want a retest of the April high and a breakout above. The bears hope that this week was simply a deep pullback (bounce) and want a retest of the May 31 [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":181298,"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-180947","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\/06\/EURUSD-Weekly-Bull-Follow-through-Above-20-Week-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\/180947","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=180947"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/180947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/181298"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=180947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=180947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=180947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}