{"id":190797,"date":"2023-09-24T01:30:00","date_gmt":"2023-09-24T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=190797"},"modified":"2023-09-23T10:30:46","modified_gmt":"2023-09-23T17:30:46","slug":"eurusd-tight-channel","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-tight-channel\/","title":{"rendered":"EURUSD Tight Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The weekly chart formed a EURUSD tight channel consisting of 10 consecutive bear bars. That means strong bears. Odds favor at least a small second leg sideways to down after a larger pullback. The bulls hope to get a reversal up from a parabolic wedge.<\/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\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic-680x383.jpg\" alt=\"EURUSD Weekly: Strong Bears, Parabolic Wedge, Climactic, EURUSD Tight Channel\" class=\"wp-image-190934\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic.jpg 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 almost a bear doji bar.<\/li>\n\n\n\n<li>Last week, we said that while odds continue to slightly favor sideways to down, the move down has lasted a long time and is slightly climactic. A minor pullback can begin within a few weeks.&nbsp;<\/li>\n\n\n\n<li>This week traded below last week\u2019s low but reversed to close above it.<\/li>\n\n\n\n<li>The bears got a reversal from a wedge top (Feb 2, Apr 26, and Jul 18), a trend channel line overshoot and a higher high major trend reversal.<\/li>\n\n\n\n<li>The move down is in a tight bear channel consisting of 10 consecutive bear bars.&nbsp;<\/li>\n\n\n\n<li>That increases the odds of at least a small second leg sideways to down after a pullback.<\/li>\n\n\n\n<li>The bears want the pullback to be weak (overlapping bars, doji(s), bear bars) and sideways, followed by another leg down from a lower high major trend reversal.<\/li>\n\n\n\n<li>The bulls hope that the current leg down is simply a deep pullback.<\/li>\n\n\n\n<li>They want a reversal up from a double bottom bull flag (May 31) and a parabolic wedge (Aug 3, Aug 25, and Sept 22).<\/li>\n\n\n\n<li>They see the market as still being in a broad bull channel and want the bull trend line to act as support.<\/li>\n\n\n\n<li>The problem with the bull\u2019s case is that the move down is very strong.&nbsp;<\/li>\n\n\n\n<li>They will need a strong bull reversal bar or at least a micro double bottom before they would think to buy more aggressively.&nbsp;<\/li>\n\n\n\n<li>While the market is sitting at a potential support area (bull trend line and bottom of trading range), the bulls still need to do more to prove that they are at least temporarily back in control.&nbsp;<\/li>\n\n\n\n<li>Since this week was a doji bar, it is a neutral bar for next week.<\/li>\n\n\n\n<li>While the EURUSD continue to slightly favor sideways to down, the move down has lasted a long time and is slightly climactic. A minor pullback can begin at any moment.&nbsp;<\/li>\n\n\n\n<li>Any pullback would likely be minor and favor at least a small second leg sideways to down after the pullback.<\/li>\n\n\n\n<li>Traders will see if the bears can maintain the tight bear channel and create a breakout below the May &amp; March low. Or will the market begin the minor pullback phase soon?<\/li>\n\n\n\n<li>If the bears continue to create strong consecutive bear bars breaking far below the May &amp; March low, it will increase the odds of the reversal being successful.<\/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\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom-680x383.jpg\" alt=\"EURUSD Daily: Parabolic Wedge, Micro Double Bottom\" class=\"wp-image-190937\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Parabolic-Wedge-Micro-Double-Bottom.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded sideways for the week. Thursday and Friday traded below last week\u2019s low but both days reversed to close as doji bars with long tails below.<\/li>\n\n\n\n<li>Last week, we said that while the odds continue to slightly favor the market to trade at least a little lower, the move down has lasted a long time and is slightly climactic. A minor pullback can begin within a few weeks.&nbsp;<\/li>\n\n\n\n<li>The bears got a reversal from a trend channel line overshoot, a wedge top (Feb 2, Apr 26, and Jul 18) and a higher high major trend reversal.<\/li>\n\n\n\n<li>They want a strong breakout below the bull trend line and the May and March low.&nbsp;<\/li>\n\n\n\n<li>The move down since July 18 is in a tight bear channel. That increases the odds of at least a small second leg sideways to down after a larger pullback.<\/li>\n\n\n\n<li>If there is a larger pullback (bounce), the bears want a reversal down from a lower high major trend reversal.<\/li>\n\n\n\n<li>The bulls hope that the recent move down is simply a deep pullback.<\/li>\n\n\n\n<li>They want a larger pullback from a parabolic wedge (Aug 8, Aug 25, and Sept 22), a smaller wedge (Sept 14, Sept 14, and Sept 22) in the third leg down and a micro double bottom (Sept 21 and Sept 22).<\/li>\n\n\n\n<li>They want the market to stall around the bull trend line and the May low followed by a reversal up.<\/li>\n\n\n\n<li>Because of the strong move down, they will need a strong bull reversal bar or at least a micro double bottom before they would think to buy more aggressively. (Note: Thursday and Friday formed a micro double bottom).<\/li>\n\n\n\n<li>While the market may still trade a little lower, the move down has lasted a long time and is slightly climactic.<\/li>\n\n\n\n<li>A minor pullback can begin at any moment. If a pullback (bounce) begins, traders will see the strength of the pullback.&nbsp;<\/li>\n\n\n\n<li>If it is weak (overlapping bars, doji(s), bear bars) and sideways, the odds of another leg down increase.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create a breakout below the bull trend line and the May &amp; March low, or will the market find buyers around the current levels beginning the minor pullback phase soon.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">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 weekly chart formed a EURUSD tight channel consisting of 10 consecutive bear bars. That means strong bears. Odds favor at least a small second leg sideways to down after a larger pullback. The bulls hope to get a reversal up from a parabolic wedge. EURUSD Forex market The Weekly EURUSD [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":190934,"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":["post-190797","post","type-post","status-publish","format-standard","has-post-thumbnail","category-forex","category-analysis","tag-eurusd-forex","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Weekly-Strong-Bears-Parabolic-Wedge-Climactic.jpg","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\/190797","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=190797"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/190797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/190934"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=190797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=190797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=190797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}