{"id":195178,"date":"2023-12-03T01:30:00","date_gmt":"2023-12-03T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=195178"},"modified":"2023-12-02T04:28:08","modified_gmt":"2023-12-02T12:28:08","slug":"eurusd-bull-flag","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-bull-flag\/","title":{"rendered":"EURUSD Bull Flag"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a EURUSD bull flag (double bottom bull flag &#8211; Jan 6 and Oct 3) on the Monthly chart. The bulls need to create follow-through buying in December to increase the odds of retesting the July high. The bears hope that the current move is simply a deep pullback and want a reversal from a lower high major trend reversal.<\/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>Monthly<\/em> EURUSD Forex chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low-680x383.jpg\" alt=\"EURUSD Bull Flag, EURUSD Monthly: Reversal from DB Bull Flag and TR Low\" class=\"wp-image-195246\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Reversal-from-DB-Bull-Flag-and-TR-Low.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The November monthly EURUSD candlestick was a bull bar closing in the upper half with a prominent tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-double-bottom-bull-flag\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said that the odds slightly favor the trading range to continue. Traders will see if the bulls can create a strong bull bar in November. If they do, it will increase the odds of the bull leg beginning.<\/li>\n\n\n\n<li>The market traded higher closing above the 20-week EMA and the trading range remains intact.<\/li>\n\n\n\n<li>The bears got a reversal down testing the trading range low (Jan low).<\/li>\n\n\n\n<li>While October broke below the trading range low, the bears were not able to get sustained follow-through selling.<\/li>\n\n\n\n<li>They hope that the current move is simply a deep pullback and want a reversal from a lower high major trend reversal.<\/li>\n\n\n\n<li>The bulls want a reversal from a double bottom bull flag (Jan 6 and Oct 3).<\/li>\n\n\n\n<li>They got a strong entry bar in November by closing above October high and the 20-week EMA.<\/li>\n\n\n\n<li>They need to create a follow-through bull bar in December to increase the odds of a retest of the July high.<\/li>\n\n\n\n<li>They hope to get a large second leg up lasting many months with the first leg being the September 2022 to July 2023 rally.<\/li>\n\n\n\n<li>Since October is a big bull bar, it is a buy signal bar for December. It is not a strong sell signal bar.<\/li>\n\n\n\n<li>For now, odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n<li>Traders will see if the bulls can create follow-through buying in December. If they do, it will increase the odds of a retest of the July high.<\/li>\n\n\n\n<li>If December closes as a bear bar below the 20-week EMA instead, that will increase the odds of a (tight) trading range or sideways to down moving forward.<\/li>\n<\/ul>\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\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through-680x383.jpg\" alt=\"EURUSD Weekly: Wedge, Bears Need Follow-through\" class=\"wp-image-195249\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through.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 an outside bear bar with tails above and below, closing below the middle of its range.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-follow-through\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that odds continue to slightly favor the market to still be in the sideways to up phase and a small second leg sideways to up after a small pullback.<\/li>\n\n\n\n<li>This week traded higher earlier in the week, followed by a reversal below last week&#8217;s low but closing above it.<\/li>\n\n\n\n<li>The bulls got a reversal after a test of the trading range low (Jan low).<\/li>\n\n\n\n<li>They want a retest of the July high followed by a continuation higher in the form of a large second leg up (with the first leg being the September 2022 to July 2023 rally).<\/li>\n\n\n\n<li>If the market trades slightly lower, the bulls want a reversal up from a higher low major trend reversal and the 20-week EMA to act as support.<\/li>\n\n\n\n<li>Previously, the bears got a tight bear channel testing the trading range low (Jan 6).<\/li>\n\n\n\n<li>They see the current move simply as a deep pullback and want a second leg down to retest the October low.<\/li>\n\n\n\n<li>They want a reversal from a wedge bear flag (Oct 12, Nov 3, and Nov 29) and a lower high major trend reversal.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that they have not been able to create follow-through selling (since the Oct low).<\/li>\n\n\n\n<li>Will they be able to create a follow-through bear bar next week?<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear bar closing slightly below the middle of its range, it is a sell signal bar for next week albeit weaker (a prominent tail below).<\/li>\n\n\n\n<li>Traders will see if the bears can create follow-through selling or if will they fail to do so again.<\/li>\n\n\n\n<li>Odds slightly favor any pullback to be minor and at least a small second leg sideways to up after a 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 market formed a EURUSD bull flag (double bottom bull flag &#8211; Jan 6 and Oct 3) on the Monthly chart. The bulls need to create follow-through buying in December to increase the odds of retesting the July high. The bears hope that the current move is simply a deep pullback [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":195249,"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-195178","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\/12\/EURUSD-Weekly-Wedge-Bears-Need-Follow-through.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\/195178","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=195178"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/195178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/195249"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=195178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=195178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=195178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}