{"id":205319,"date":"2024-04-14T01:30:00","date_gmt":"2024-04-14T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=205319"},"modified":"2024-04-14T02:16:56","modified_gmt":"2024-04-14T09:16:56","slug":"eurusd-breakout-below","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-breakout-below\/","title":{"rendered":"EURUSD Breakout Below"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The weekly chart formed a EURUSD breakout below the triangle pattern and the small trading range. The bears need to create follow-through selling next week to increase the odds of a retest of the larger trading range low (October low). The bulls want a reversal from a higher low major trend reversal and a larger wedge bull flag (Mar 15, Oct 3, and Apr 12).<\/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\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle-680x383.jpg\" alt=\"EURUSD Weekly: Stall at 20-Week EMA, BO below Triangle, EURUSD breakout below\" class=\"wp-image-205494\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a>\u00a0was a big outside bear bar closing near its low.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-eurusd-breakout\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls can create a follow-through bull bar or will the market continue to stall around the 20-week EMA area. Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>This week traded above last week\u2019s high but reversed back below the 20-week EMA. The market broke out below the triangle pattern.<\/li>\n\n\n\n<li>Previously, the bears got a reversal from a wedge bear flag (Nov 3, Nov 29, and Dec 28) and a lower high major trend reversal (Dec 28).<\/li>\n\n\n\n<li>They then got another leg down from a lower high major trend reversal (Mar 8).<\/li>\n\n\n\n<li>They hope that last week was simply a pullback and hope to get at least a small second leg sideways to down. They got what they wanted.<\/li>\n\n\n\n<li>Since this week was a breakout below the triangle pattern and the smaller 22-week trading range, the bears need to create a follow-through bear bar to increase the odds of a successful breakout.<\/li>\n\n\n\n<li>The bulls got a 2-legged sideways to up pullback (Mar 8) from a double bottom bull flag (Dec 8 and Feb 14).<\/li>\n\n\n\n<li>They see the current move simply as a bear leg within a trading range and want a reversal from around the low of the large trading range.<\/li>\n\n\n\n<li>They want a reversal from a higher low major trend reversal and a larger wedge bull flag (Mar 15, Oct 3, and Apr 12).<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is an outside 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. The bear leg to retest near the low of the large trading range may be underway.<\/li>\n\n\n\n<li>Traders will see if the bears can create a follow-through bear bar. If they do, it will increase the odds of a retest of the October 2023 low.<\/li>\n\n\n\n<li>The EURUSD is in a 73-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).\u00a0<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>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\">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\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT-680x383.jpg\" alt=\"EURUSD Daily: Strong BO below Triangle, Bears need FT\" class=\"wp-image-205497\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Strong-BO-below-Triangle-Bears-need-FT.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD traded higher earlier in the week, but the follow-through buying was weak. The market then reversed below the 20-day EMA and broke out below the smaller 22-week trading range.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-eurusd-breakout\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-eurusd-breakout\/\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls could create follow-through buying following last week\u2019s close above the 20-day EMA. Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>The bulls hope that the breakout from the triangle and the smaller trading range will fail.<\/li>\n\n\n\n<li>They hope that the current move will form a higher low major trend reversal and reverse from around the lower third of the large trading range (around the October low area).<\/li>\n\n\n\n<li>The problem with the bull\u2019s case is that the bears are getting strong consecutive bear bars closing near their lows.<\/li>\n\n\n\n<li>They will need to create a few strong consecutive bull bars to indicate that they are at least temporarily back in control.<\/li>\n\n\n\n<li>The bears see the recent move (to Mar 8) simply as a two-legged pullback and a buy vacuum test of the small trading range high area.<\/li>\n\n\n\n<li>They got a reversal from a lower high major trend reversal (Mar 8) and a double top bear flag (Jan 11 and Mar 8).<\/li>\n\n\n\n<li>They want a strong breakout below the February low and a retest of the October low (larger trading range low).\u00a0<\/li>\n\n\n\n<li>Traders will see if the bears can create a follow-through selling next week. The move down is strong enough to favor at least a small second leg sideways to down after a small pullback.<\/li>\n\n\n\n<li>For now, odds slightly favor the market to trade at least a little lower and favor at least a small second leg sideways to down after a small pullback.<\/li>\n\n\n\n<li>The bear leg to retest the large trading range low (October low) could be underway.<\/li>\n\n\n\n<li>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>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 breakout below the triangle pattern and the small trading range. The bears need to create follow-through selling next week to increase the odds of a retest of the larger trading range low (October low). The bulls want a reversal from a higher low major trend [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":205494,"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-205319","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\/2024\/04\/EURUSD-Weekly-Stall-at-20-Week-EMA-BO-below-Triangle.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\/205319","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=205319"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/205319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/205494"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=205319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=205319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=205319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}