{"id":205788,"date":"2024-04-21T01:30:00","date_gmt":"2024-04-21T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=205788"},"modified":"2024-04-21T02:17:47","modified_gmt":"2024-04-21T09:17:47","slug":"disappointing-eurusd-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/disappointing-eurusd-follow-through\/","title":{"rendered":"Disappointing EURUSD Follow-through selling"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The bears got a disappointing EURUSD follow-through selling on the weekly chart. They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. The bulls want a reversal from a higher low major trend reversal, a larger wedge bull flag (Mar 15, Oct 3, and Apr 16) and a wedge in the third leg down (Dec 8, Feb 14, and Apr 16).<\/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-Disappointing-FT-Selling.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling-680x383.jpg\" alt=\"EURUSD Weekly: Disappointing FT Selling, Disappointing EURUSD Follow-through selling\" class=\"wp-image-206014\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling.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 small bull doji with tails above and below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-breakout-below\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market to trade at least a little lower. 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 market traded slightly lower earlier in the week but reversed to close with a small bull body.<\/li>\n\n\n\n<li>The bears got a breakout below the triangle pattern and the smaller 22-week trading range last week.<\/li>\n\n\n\n<li>However, they were not able to get a follow-through bear bar this week.<\/li>\n\n\n\n<li>They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. They want a retest of the large trading range low (Oct low).<\/li>\n\n\n\n<li>If the market trades higher, the bears want the market to stall around the breakout point or the 20-week EMA.<\/li>\n\n\n\n<li>They want another leg down, completing the wedge pattern with the first two legs being February 14 and April 16.<\/li>\n\n\n\n<li>The bulls see the current move simply as a two-legged pullback (which started on Dec 28) and a bear leg within a trading range.<\/li>\n\n\n\n<li>They want a reversal from around the lower third of the large trading range.<\/li>\n\n\n\n<li>They want a reversal from a higher low major trend reversal, a larger wedge bull flag (Mar 15, Oct 3, and Apr 16) and a wedge in the third leg down (Dec 8, Feb 14, and Apr 16).<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a small bull doji, it is not a strong signal bar for next week.<\/li>\n\n\n\n<li>While the bears were not able to create strong follow-through selling, the small bull doji may not be enough to reverse the big bear breakout bar.<\/li>\n\n\n\n<li>Traders may want to see at least a small micro double bottom before they would be more willing to buy aggressively.<\/li>\n\n\n\n<li>For now, the market may still be in the sideways to down bear leg.<\/li>\n\n\n\n<li>Traders will see if the bears can get another leg lower or will the market continue to stall around the current levels (lower third of the large trading range).<\/li>\n\n\n\n<li>The EURUSD is in a 74-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).\u00a0<\/li>\n\n\n\n<li>The lower third area of the large trading range which could be a buy zone for trading range traders.<\/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\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/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-Poor-FT-Selling-PB-then-Wedge.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge-680x383.jpg\" alt=\"EURUSD Daily: Poor FT Selling, PB then Wedge?\" class=\"wp-image-206017\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/EURUSD-Daily-Poor-FT-Selling-PB-then-Wedge.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 slightly lower earlier in the week but stalled and pulled back a little higher. Friday formed a small retest of the April 16 low closing as a bull doji with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-breakout-below\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that 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.\u00a0<\/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 a wedge bull flag (Dec 8, Feb 14, and Apr 16).<\/li>\n\n\n\n<li>They want a reversal from around the lower third of the large trading range.<\/li>\n\n\n\n<li>They will need to create a few strong consecutive bull bars trading back above the 20-day EMA to indicate that they are back in control.<\/li>\n\n\n\n<li>The bears got a breakout below the smaller trading range and the triangle pattern.<\/li>\n\n\n\n<li>However, the follow-through selling is not as strong as the bears hope it would be.<\/li>\n\n\n\n<li>They see this week simply as a pullback and want another strong leg down.<\/li>\n\n\n\n<li>If the market trades higher, they want the pullback to stall around the 20-day EMA area and form another leg down, completing the wedge pattern with the first two legs being April 2 and April 16.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create another leg down after the current pullback (bounce).<\/li>\n\n\n\n<li>The market is currently trading around the lower third of the large trading range which could be the buy zone of trading range traders.<\/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\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/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 bears got a disappointing EURUSD follow-through selling on the weekly chart. They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. The bulls want a reversal from a higher low major trend reversal, a larger wedge bull flag [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":206014,"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-205788","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\/2024\/04\/EURUSD-Weekly-Disappointing-FT-Selling.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\/205788","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=205788"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/205788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/206014"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=205788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=205788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=205788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}