{"id":208807,"date":"2024-05-19T01:30:00","date_gmt":"2024-05-19T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=208807"},"modified":"2024-05-18T12:37:13","modified_gmt":"2024-05-18T19:37:13","slug":"weekly-eurusd-lower-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-eurusd-lower-high\/","title":{"rendered":"Weekly EURUSD Lower High"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market traded higher and is currently at a weekly EURUSD lower high. The bulls\u00a0need to\u00a0create follow-through buying following this week\u2019s close above the 20-week EMA. The bears hope that the bear trend line will act as resistance. If the market trades higher, the bears want\u00a0a\u00a0larger\u00a0double top bear flag with the\u00a0March 8\u00a0high.<\/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-5-Bar-Bull-MC-but-Lower-High-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-5-Bar-Bull-MC-but-Lower-High-Middle-of-TR-680x383.jpg\" alt=\"EURUSD Weekly: 5-Bar Bull MC but Lower High, Middle of TR, Weekly EURUSD Lower High\" class=\"wp-image-208931\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-5-Bar-Bull-MC-but-Lower-High-Middle-of-TR-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-5-Bar-Bull-MC-but-Lower-High-Middle-of-TR-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-5-Bar-Bull-MC-but-Lower-High-Middle-of-TR-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-5-Bar-Bull-MC-but-Lower-High-Middle-of-TR-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-5-Bar-Bull-MC-but-Lower-High-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\u00a0closing in its upper half and trading above the 20-week EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-middle-of-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that while the recent\u00a04\u00a0consecutive bull bars were not very strong, the odds are slowly moving in favor of a failed\u00a0breakout of the triangle pattern\u00a0and the smaller 22-week\u00a0trading range.<\/li>\n\n\n\n<li>The bears got a breakout below the triangle\u00a0pattern and the smaller 22-week trading range but\u00a0were not able to\u00a0get follow-through selling.<\/li>\n\n\n\n<li>They see the\u00a0recent moves simply as a deep 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 double top bear flag (Apr 9\u00a0and\u00a0May 16) and a lower high.<\/li>\n\n\n\n<li>They hope to get at least\u00a0another leg down\u00a0completing\u00a0the wedge pattern\u00a0with\u00a0the first two legs being\u00a0February\u00a014\u00a0and\u00a0April 16.\u00a0<\/li>\n\n\n\n<li>The bears hope that the bear trend line will act as resistance. If the market trades higher, the bears want\u00a0a\u00a0larger\u00a0double top bear flag with the\u00a0March 8\u00a0high.<\/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 got a reversal from around the lower third of the\u00a0large\u00a0trading range\u00a0from a higher low\u00a0major\u00a0trend reversal, a\u00a0larger\u00a0wedge bull flag\u00a0(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 5-bar bull microchannel in the current leg up. That means persistent buying.\u00a0<\/li>\n\n\n\n<li>They\u00a0need to\u00a0create follow-through buying following this week\u2019s close above the 20-week EMA.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is\u00a0a bull bar closing in its upper half, it is a buy signal bar for next week.<\/li>\n\n\n\n<li>Traders will see if the bulls can create a follow-through bull bar\u00a0closing above the 20-week EMA, even if it is just a bull doji.<\/li>\n\n\n\n<li>Or will they fail to do so, like the third week of March (inside bear bar)?<\/li>\n\n\n\n<li>The market is currently trading around the middle of\u00a0the trading range. It is an area of balance.<\/li>\n\n\n\n<li>The EURUSD is in a 78-week trading range. (Trading range high: July 2023, Trading range low: Oct 2023).\u00a0<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until\u00a0there is\u00a0a\u00a0breakout 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-DT-Bear-Flag-Middle-of-TR.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-DT-Bear-Flag-Middle-of-TR-680x383.jpg\" alt=\"EURUSD Daily: Wedge Bear Flag, DT Bear Flag, Middle of TR\" class=\"wp-image-208916\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-DT-Bear-Flag-Middle-of-TR-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-DT-Bear-Flag-Middle-of-TR-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-DT-Bear-Flag-Middle-of-TR-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-DT-Bear-Flag-Middle-of-TR-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-DT-Bear-Flag-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>The EURUSD traded sideways to up for the week above the 20-day EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-middle-of-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said\u00a0that traders\u00a0would see if the bears could create another leg down after the\u00a0current\u00a0pullback (bounce).<\/li>\n\n\n\n<li>The market continued higher with\u00a0stronger\u00a0bull bars and a weak pullback on Friday.<\/li>\n\n\n\n<li>The bulls got a reversal from around the lower third of the\u00a0large\u00a0trading range,\u00a0a higher low\u00a0major\u00a0trend reversal and a wedge bull flag\u00a0(Dec 8,\u00a0Feb 14, and\u00a0Apr 16).<\/li>\n\n\n\n<li>They needed to do more by creating strong\u00a0consecutive bull bars closing near their highs and trading\u00a0far above the 20-day EMA to increase the odds of retesting the December high.<\/li>\n\n\n\n<li>They have done that this week. The next target for the bulls is the\u00a0March 8\u00a0high.<\/li>\n\n\n\n<li>If the market trades lower, they want a higher low\u00a0major\u00a0trend reversal and the 20-day EMA to\u00a0act as support.<\/li>\n\n\n\n<li>The bears\u00a0got a breakout\u00a0below the smaller trading range and the triangle pattern but had limited follow-through selling.<\/li>\n\n\n\n<li>They see the current move as a deep pullback forming a wedge bear flag (Apr 26,\u00a0May 3, and\u00a0May 16) and a double top bear flag (Apr 9\u00a0and\u00a0May 16).<\/li>\n\n\n\n<li>They want another leg down\u00a0completing\u00a0the larger\u00a0wedge pattern\u00a0with\u00a0the first two legs being\u00a0February\u00a014\u00a0and\u00a0April 16.<\/li>\n\n\n\n<li>They want\u00a0at least\u00a0a small retest of the\u00a0April 16\u00a0low, even if it only forms a higher low.<\/li>\n\n\n\n<li>If the market trades higher, the bears want a reversal from a\u00a0larger\u00a0double top bear flag with the\u00a0March 8\u00a0high.<\/li>\n\n\n\n<li>For now, the move\u00a0up\u00a0is in a tight bull channel with\u00a0stronger\u00a0buying pressure (bull bars with follow-through buying) against weaker selling pressure (smaller bear bars with limited follow-through selling).<\/li>\n\n\n\n<li>Odds slightly favor at least a small second leg sideways to up after a\u00a0pullback.<\/li>\n\n\n\n<li>The market\u00a0is currently trading\u00a0around the\u00a0middle of the trading range\u00a0which\u00a0can be an area of balance.<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until\u00a0there is\u00a0a\u00a0breakout 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>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 traded higher and is currently at a weekly EURUSD lower high. The bulls\u00a0need to\u00a0create follow-through buying following this week\u2019s close above the 20-week EMA. The bears hope that the bear trend line will act as resistance. If the market trades higher, the bears want\u00a0a\u00a0larger\u00a0double top bear flag with the\u00a0March [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":208931,"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-208807","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-5-Bar-Bull-MC-but-Lower-High-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\/208807","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=208807"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/208807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/208931"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=208807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=208807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=208807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}