{"id":208309,"date":"2024-05-12T01:30:00","date_gmt":"2024-05-12T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=208309"},"modified":"2024-05-12T01:58:01","modified_gmt":"2024-05-12T08:58:01","slug":"eurusd-middle-of-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-middle-of-trading-range\/","title":{"rendered":"EURUSD Middle of the Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market is currently trading around the EURUSD middle of the trading range which can be an area of balance. The bears want the 20-week EMA to act as resistance followed by at least a small retest of the April 16 low. The bulls need to create consecutive bull bars closing near their highs and trading far above the 20-week EMA to indicate that they are back in control.<\/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\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High-680x383.jpg\" alt=\"EURUSD Weekly: Middle of TR, Bull MC but Lower High, EURUSD Middle of the Trading Range\" class=\"wp-image-208435\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-High.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 an inside bull doji trading below the 20-week EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/sideways-eurusd-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the market is trading around the middle of the trading range. It is an area of balance.<\/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 follow-through selling.<\/li>\n\n\n\n<li>They hope\u00a0that the\u00a0recent moves were simply a pullback and want at least a small retest of the\u00a0April 16\u00a0low (even if it forms a higher low).<\/li>\n\n\n\n<li>They want a reversal from a micro wedge bear flag (Apr 18,\u00a0Apr 26, and\u00a0May 3).<\/li>\n\n\n\n<li>They want to get at least another leg down completing the wedge pattern\u00a0with\u00a0the first two legs being\u00a0February 14\u00a0and\u00a0April 16.\u00a0<\/li>\n\n\n\n<li>The bears want the 20-week EMA to act as resistance.<\/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 have a 4-bar bull microchannel in the current leg up. That means persistent buying.\u00a0<\/li>\n\n\n\n<li>They see this week simply as a pullback and want another leg up breaking above the 20-week EMA with follow-through buying.<\/li>\n\n\n\n<li>They need to create consecutive bull bars closing near their highs and trading far above the 20-week EMA to indicate that they are back in control.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a doji, the market is in breakout mode.<\/li>\n\n\n\n<li>The bulls want a breakout above while the bears want a breakout below the inside bar. The first breakout can fail 50% of the time.<\/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 follow-through bull bar closing above the 20-week EMA or will the bears be able to create a small pullback lower.<\/li>\n\n\n\n<li>While the recent\u00a04\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 77-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.\u00a0<\/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\">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\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout-680x383.jpg\" alt=\"EURUSD Daily: Wedge Bear Flag or Failed Breakout?\" class=\"wp-image-208438\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-or-Failed-Breakout.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 sideways for the week above the 20-day EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-breakout-test-or-stalling\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously<\/a>, we said that traders would see if the bears could create another leg down after the\u00a0current\u00a0pullback (bounce). The lower third of the\u00a0large\u00a0trading range\u00a0can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The bulls hope\u00a0that the\u00a0breakout from the triangle and the smaller trading range has failed.<\/li>\n\n\n\n<li>They got a reversal from around the lower third of the\u00a0large\u00a0trading range, a higher low\u00a0major\u00a0trend reversal and a wedge bull flag (Dec 8,\u00a0Feb 14, and\u00a0Apr 16).<\/li>\n\n\n\n<li>The move up since the April 16 low has a lot of overlapping candlesticks and has the shape of a wedge.<\/li>\n\n\n\n<li>The bulls need to do more by creating strong consecutive bull bars closing near their highs and trading far above the 20-day EMA to increase the odds of retesting the December high.<\/li>\n\n\n\n<li>If the market trades lower, they want a higher low\u00a0major\u00a0trend reversal or a double bottom with the\u00a0April 16\u00a0low.<\/li>\n\n\n\n<li>The bears\u00a0got a breakout\u00a0below the smaller trading range and the triangle pattern but got poor follow-through selling.<\/li>\n\n\n\n<li>They see the current move simply as a pullback forming a wedge bear flag (Apr 18, Apr 26, and May 3) and a small double top (May 3 and May 10).<\/li>\n\n\n\n<li>They want another leg down completing the larger wedge pattern with the first two legs being\u00a0February 14 and April 16.<\/li>\n\n\n\n<li>They want at least a small retest of the April 16 low, even if it only forms a higher low.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create another leg down after the\u00a0current\u00a0pullback (bounce).<\/li>\n\n\n\n<li>The market\u00a0is currently trading\u00a0around the middle of the trading range which can be an area of balance.<\/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\n\n\n<li>The lower third of the\u00a0large\u00a0trading range\u00a0can be the buy zone of trading range traders.<\/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 is currently trading around the EURUSD middle of the trading range which can be an area of balance. The bears want the 20-week EMA to act as resistance followed by at least a small retest of the April 16 low. The bulls need to create consecutive bull bars closing [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":208435,"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-208309","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\/05\/EURUSD-Weekly-Middle-of-TR-Bull-MC-but-Lower-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\/208309","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=208309"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/208309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/208435"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=208309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=208309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=208309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}