{"id":196773,"date":"2023-12-31T01:30:00","date_gmt":"2023-12-31T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=196773"},"modified":"2024-01-01T02:09:15","modified_gmt":"2024-01-01T10:09:15","slug":"eurusd-bad-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-bad-follow-through\/","title":{"rendered":"EURUSD Bad Follow-through"},"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 bear doji closing near its low therefore was an EURUSD bad follow-through candlestick. If a pullback begins, the bulls want the 20-week EMA to act as support, followed by a reversal from a double bottom bull flag. The bears want a reversal from a wedge bear flag (Nov 3, Nov 29, and Dec 28) and 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-Consecutive-Bull-Bar-above-20-Month-EMA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA-680x383.jpg\" alt=\"EURUSD Monthly: Consecutive Bull Bar above 20-Month EMA\" class=\"wp-image-196958\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Monthly-Consecutive-Bull-Bar-above-20-Month-EMA.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-2d5bc6a\" data-block-id=\"2d5bc6a\"><style>.stk-2d5bc6a{height:20px !important}<\/style><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The December monthly EURUSD candlestick was a bull bar closing slightly above the November high with a prominent tail above.<\/li>\n\n\n\n<li>Last month, we said that the odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n<li>The bulls got 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 then got a follow-through bull bar in December.&nbsp;<\/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>The bears got a reversal down testing the trading range low (Jan low) but were not able to get sustained follow-through selling.<\/li>\n\n\n\n<li>They hope that the current move is simply a retest of the July high and want a reversal from a lower high major trend reversal.<\/li>\n\n\n\n<li>They see the market as being in a 13-month trading range and the EURUSD is currently trading in the sell zone of trading range traders.<\/li>\n\n\n\n<li>Since December is a bull bar closing in its upper half, it is a buy signal bar for January albeit weaker (prominent tail above). 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 another follow-through bull bar in January. If they do, it will increase the odds of a retest and breakout attempt above the July high.<\/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-Second-Leg-Up-Stall-around-TR-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High-680x383.jpg\" alt=\"EURUSD Weekly: Second Leg Up, Stall around TR High, EURUSD Bad Follow-through\" class=\"wp-image-196961\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-95cfff7\" data-block-id=\"95cfff7\"><style>.stk-95cfff7{height:20px !important}<\/style><\/div>\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 doji with a long tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-second-leg-up\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds continue to slightly favor the market to still be Always In Long.<\/li>\n\n\n\n<li>This week traded higher earlier in the week but gave back all of the gains by Friday.<\/li>\n\n\n\n<li>The bulls 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 September 2022 to July 2023 rally).<\/li>\n\n\n\n<li>They got a second leg sideways to up after a test of the 20-week EMA.&nbsp;<\/li>\n\n\n\n<li>While they got some follow-through buying above the November 29 high, the long tail above the weekly candlestick indicates that the bulls are not yet as strong as they hope to be.<\/li>\n\n\n\n<li>If a pullback begins, the bulls want the 20-week EMA to act as support, followed by a reversal from a double bottom bull flag with the first leg being the December 8 low.<\/li>\n\n\n\n<li>The bears see the rally since October as a retest of the prior leg&#8217;s extreme high.<\/li>\n\n\n\n<li>They want a reversal from a wedge bear flag (Nov 3, Nov 29, and Dec 28) and a lower high major trend reversal.<\/li>\n\n\n\n<li>They need to create a few strong consecutive bear bars closing below the 20-week EMA to increase the odds of retesting the trading range low.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear doji 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>For now, odds slightly favor the pullback to be minor even if it last 1-3 weeks and the market to still be Always In Long.<\/li>\n\n\n\n<li>However, if the bears manage to create a few strong consecutive bear bars closing below the 20-week EMA, odds will swing in favor of the bear leg beginning.<\/li>\n\n\n\n<li>The EURUSD is in a 57-week trading range. Traders will continue to BLSH (Buy Low, Sell High) within a trading range until there is a breakout with follow-through selling\/buying.<\/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 bear doji closing near its low therefore was an EURUSD bad follow-through candlestick. If a pullback begins, the bulls want the 20-week EMA to act as support, followed by a reversal from a double bottom bull flag. The bears want a reversal from a wedge bear [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":196961,"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-196773","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\/12\/EURUSD-Weekly-Second-Leg-Up-Stall-around-TR-High.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\/196773","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=196773"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/196773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/196961"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=196773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=196773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=196773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}