{"id":192170,"date":"2023-10-15T01:30:00","date_gmt":"2023-10-15T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=192170"},"modified":"2023-10-14T12:27:53","modified_gmt":"2023-10-14T19:27:53","slug":"no-eurusd-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/no-eurusd-follow-through\/","title":{"rendered":"No EURUSD Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market traded higher but reversed into a bear bar; there was no EURUSD follow-through buying following last week&#8217;s bull reversal bar. That put the minor pullback lasting many weeks beginning in doubt. If the bears get follow-through selling breaking far below the March low, it could lead to a measured move down. The bulls hope that the market is simply retesting the October 3 low and want a reversal from a small double bottom.<\/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\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel-680x383.jpg\" alt=\"EURUSD Weekly: No FT Buying, Tight Bear Channel, No EURUSD Follow-through\" class=\"wp-image-192305\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel.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 a bear reversal bar with a long tail above.<\/li>\n\n\n\n<li>Last week, we said that the odds slightly favor the EURUSD to trade at least a little higher and begin the pullback phase.<\/li>\n\n\n\n<li>This week traded higher but reversed into a bear bar closing near its low.<\/li>\n\n\n\n<li>The bulls hope that the strong move down is simply a sell vacuum within a trading range.<\/li>\n\n\n\n<li>They want a reversal up from a double bottom bull flag (with Mar 15) and a parabolic wedge (Aug 3, Aug 25, and Oct 3).<\/li>\n\n\n\n<li>The problem with the bull\u2019s case is that the move down is very strong and they failed to get follow-through buying this week. That puts the pullback phase beginning into doubt.<\/li>\n\n\n\n<li>The bulls need to do more to prove that they are at least temporarily back in control by creating consecutive bull bars closing near their highs (follow-through buying) for the next few weeks.<\/li>\n\n\n\n<li>The bears got a tight bear channel testing the trading range low.<\/li>\n\n\n\n<li>That increases the odds of at least a small second leg sideways to down after a larger pullback (bounce).<\/li>\n\n\n\n<li>They see this week as a 1-bar pullback and want the market to resume lower by breaking below the March low with follow-through selling.<\/li>\n\n\n\n<li>Since this week was a bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n<li>Odds slightly favor the market to trade at least a little lower.<\/li>\n\n\n\n<li>Until the bulls can show they are back in control by creating strong bull bars, odds continue to slightly favor the EURUSD to trade sideways to down.<\/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\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears-680x383.jpg\" alt=\"EURUSD Daily: Parabolic Wedge, but Strong Bears\" class=\"wp-image-192308\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Parabolic-Wedge-but-Strong-Bears.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 higher first half of the week but reversed lower on Thursday and Friday.<\/li>\n\n\n\n<li>Last week, we said that a minor pullback may have begun. Traders will see if the bulls can start creating more buying pressure or will the pullback attempt be weak and sideways.<\/li>\n\n\n\n<li>This week tested the 20-day EMA, but the bulls were not able to get sustained follow-through buying above it.<\/li>\n\n\n\n<li>The bulls hope that the strong move down is simply a sell vacuum test of the 44-week trading range low.<\/li>\n\n\n\n<li>They want a larger pullback from a parabolic wedge (Aug 25, Sept 14, and Oct 3) and a large double bottom with the March low.<\/li>\n\n\n\n<li>They hope that this week is simply a retest of the Oct 3 low and want a reversal from a higher low major trend reversal or a small double bottom (Oct 3).<\/li>\n\n\n\n<li>They need to create consecutive bull bars closing near their highs, breaking far above the 20-day EMA and the bear trend line to increase the odds of the bull leg beginning.<\/li>\n\n\n\n<li>The bears got a tight bear channel down lasting 13 weeks.<\/li>\n\n\n\n<li>They want a strong breakout below the March low and a measured move down based on the height of the 44-week trading range.<\/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 the market trades slightly higher, the bears want a reversal from a double top bear flag with the October 12 high.<\/li>\n\n\n\n<li>Since Friday was a bear bar closing in the lower half, it is a sell signal bar for Monday.<\/li>\n\n\n\n<li>The minor pullback (bounce) recently has also alleviated the oversold conditions.<\/li>\n\n\n\n<li>Until the bulls can break far above the bear trend line, odds slightly favor the EURUSD to trade sideways to down still.<\/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 market traded higher but reversed into a bear bar; there was no EURUSD follow-through buying following last week&#8217;s bull reversal bar. That put the minor pullback lasting many weeks beginning in doubt. If the bears get follow-through selling breaking far below the March low, it could lead to a measured [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":192305,"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-192170","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\/10\/EURUSD-Weekly-No-FT-Buying-Tight-Bear-Channel.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\/192170","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=192170"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/192170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/192305"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=192170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=192170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=192170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}