{"id":207105,"date":"2024-05-05T01:30:00","date_gmt":"2024-05-05T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=207105"},"modified":"2024-05-04T13:07:10","modified_gmt":"2024-05-04T20:07:10","slug":"sideways-eurusd-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/sideways-eurusd-trading-range\/","title":{"rendered":"Sideways EURUSD Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The market is forming a sideways EURUSD trading range on the monthly chart. The middle of the trading range is an area of balance. Traders will BLSH (Buy Low, Sell High) until\u00a0there is\u00a0a breakout with sustained follow-through buying\/selling from either direction. Poor follow-through and reversals are hallmarks of a trading range.<\/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\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle-680x383.jpg\" alt=\"EURUSD Monthly: Middle of TR, Wedge Bull Flag, Triangle, Sideways EURUSD Trading Range\" class=\"wp-image-207215\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-Triangle-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Monthly-Middle-of-TR-Wedge-Bull-Flag-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>The April monthly EURUSD candlestick was a bear bar closing below the 20-month EMA with tails above and below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-consecutive-doji\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said that after a weak move higher in March, we could see the market do the opposite by trading lower in April.\u00a0<\/li>\n\n\n\n<li>The bulls want a reversal from a large wedge bull flag (Jan 6, Oct 3, and\u00a0Apr 16) around the lower third of the\u00a0large\u00a0trading range.<\/li>\n\n\n\n<li>They hope to get another leg up to retest the\u00a0December 28\u00a0high.<\/li>\n\n\n\n<li>They see the move down from December simply as a two-legged pullback.<\/li>\n\n\n\n<li>They want the market to reverse back above the 20-month EMA.<\/li>\n\n\n\n<li>The bears see the prior move up (Dec 28) as a retest of the July high and got a reversal from a lower high\u00a0major\u00a0trend reversal.<\/li>\n\n\n\n<li>They see the market as being in a 17-month trading range.<\/li>\n\n\n\n<li>They managed to get follow-through selling below the 20-month EMA in April, but the prominent tail below indicates that the bears are not\u00a0yet\u00a0as strong as they hoped\u00a0to be.<\/li>\n\n\n\n<li>They need to create a follow-through bear bar in May to increase the odds of a retest of the October low.<\/li>\n\n\n\n<li>Since April is a bear bar with a prominent tail below, it is a sell signal bar for May\u00a0albeit\u00a0weaker.<\/li>\n\n\n\n<li>May\u00a0so far\u00a0(as of Friday,\u00a03 May) has reversed higher to test the 20-month EMA, which is the middle of the trading range. It is an area of balance.<\/li>\n\n\n\n<li>For now, the odds for the bulls and bears remain\u00a0quite\u00a0equal.<\/li>\n\n\n\n<li>Traders will see if the bears can create another bear bar in May\u00a0trading\u00a0below the 20-month EMA. If they do, it will increase the odds of a retest of the October low.<\/li>\n\n\n\n<li>However, if the market continues to hold around the 20-month EMA for a couple of months, the odds of a retest of the December high will increase.\u00a0This\u00a0remains true.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until\u00a0there is\u00a0a breakout with sustained follow-through buying\/selling from either direction.<\/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>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\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR-680x383.jpg\" alt=\"EURUSD Weekly: PB or Failed Breakout? Middle of TR\" class=\"wp-image-207218\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR.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 bull bar with a prominent tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-breakout-test-or-stalling\/\">Last week<\/a>, we said\u00a0that the\u00a0market may still be in the sideways to down bear leg. If the bulls get more follow-through buying, it could swing the odds in favor of a failed breakout of the triangle pattern and the smaller 22-week trading range.<\/li>\n\n\n\n<li>The market traded sideways to down earlier in the week but reversed higher from Wednesday onwards, testing the 20-week EMA.<\/li>\n\n\n\n<li>The bears got a breakout below the triangle pattern and the smaller 22-week trading range but\u00a0were not able to\u00a0get strong follow-through selling.<\/li>\n\n\n\n<li>They hope\u00a0that the\u00a0last three weeks were simply a pullback and a breakout test.<\/li>\n\n\n\n<li>They want to get at least another leg down from a micro wedge bear flag (Apr 18,\u00a0Apr 26, and\u00a0May 3), completing the wedge pattern\u00a0with\u00a0the first two legs being\u00a0February 14\u00a0and\u00a0April 16.\u00a0<\/li>\n\n\n\n<li>At the very least, they want at least a small retest of the\u00a0April 16\u00a0low (even if it forms a higher low).<\/li>\n\n\n\n<li>If the EURUSD trades higher, the bears want the market to stall around the 20-week EMA.<\/li>\n\n\n\n<li>The bulls see the prior move down (to\u00a0April 16) simply as a two-legged pullback (which started on\u00a0Dec 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\u00a0large\u00a0trading range from a higher low\u00a0major\u00a0trend reversal, a\u00a0larger\u00a0wedge bull flag (Mar 15,\u00a0Oct 3, and\u00a0Apr 16) and a wedge in the third leg down (Dec 8,\u00a0Feb 14, and\u00a0Apr 16).<\/li>\n\n\n\n<li>They need to create consecutive bull bars closing near their highs and trading above the 20-week EMA to indicate they are back in control.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bull bar closing in its upper half, it is a\u00a0buy signal bar\u00a0for next week\u00a0albeit\u00a0weaker.<\/li>\n\n\n\n<li>The market has reversed back to the middle of the trading range. It is an area of balance.<\/li>\n\n\n\n<li>Traders will see if the bulls can get another consecutive bull bar closing above the 20-week EMA.<\/li>\n\n\n\n<li>While the last\u00a03\u00a0consecutive bull bars are not very strong, the odds are slowly moving in favor of a failed breakout of the triangle pattern and the smaller 22-week trading range.<\/li>\n\n\n\n<li>The EURUSD is in a 76-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\u00a0large\u00a0trading range could be a buy zone for trading range traders. So far, we have seen traders buy around this area.<\/li>\n\n\n\n<li>Traders will continue to BLSH (Buy Low, Sell High) within a trading range until\u00a0there is\u00a0a 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 market is forming a sideways EURUSD trading range on the monthly chart. The middle of the trading range is an area of balance. Traders will BLSH (Buy Low, Sell High) until\u00a0there is\u00a0a breakout with sustained follow-through buying\/selling from either direction. Poor follow-through and reversals are hallmarks of a trading range. [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":207218,"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-207105","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\/05\/EURUSD-Weekly-PB-or-Failed-Breakout-Middle-of-TR.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\/207105","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=207105"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/207105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/207218"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=207105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=207105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=207105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}