{"id":209302,"date":"2024-05-26T01:30:00","date_gmt":"2024-05-26T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=209302"},"modified":"2024-05-25T11:42:35","modified_gmt":"2024-05-25T18:42:35","slug":"no-weekly-eurusd-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/no-weekly-eurusd-follow-through\/","title":{"rendered":"No Weekly EURUSD Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There was no weekly EURUSD follow-through bull bar following last week&#8217;s close above the 20-week EMA. The bulls\u00a0need to\u00a0create follow-through buying trading above the 20-week EMA to increase the odds of retesting the December high. The bears 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)<\/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-No-FT-Bull-Bar-Inside-Bear-Doji.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji-680x383.jpg\" alt=\"EURUSD Weekly: No FT Bull Bar, Inside Bear Doji, No Weekly EURUSD Follow-through\" class=\"wp-image-209438\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Weekly-No-FT-Bull-Bar-Inside-Bear-Doji.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\u00a0week\u2019s\u00a0candlestick 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 bear bar closing in its upper half with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-lower-high\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders will see if the bulls can create a follow-through bull bar\u00a0closing above the 20-week EMA, or will they fail to do so, like the third week of March (inside bear bar)?<\/li>\n\n\n\n<li>While the bulls\u00a0were not able to\u00a0create a follow-through bull bar, the bear doji had a long tail below\u00a0indicating\u00a0that the bears are not yet as strong as they would like to be.<\/li>\n\n\n\n<li>The bulls 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)\u00a0and\u00a0a wedge in the third leg down (Dec 8,\u00a0Feb 14, and\u00a0Apr 16).<\/li>\n\n\n\n<li>They have a 6-bar bull microchannel in the current leg up. \u00a0That means persistent buying.<\/li>\n\n\n\n<li>Sometimes\u00a0there\u00a0may be buyers\u00a0below the first pullback from such a strong bull microchannel.<\/li>\n\n\n\n<li>The bulls\u00a0need to\u00a0create follow-through buying trading above the 20-week EMA to increase the odds of retesting the December high.<\/li>\n\n\n\n<li>They want the 20-week EMA to act as support.<\/li>\n\n\n\n<li>The bears 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 another leg down\u00a0completing\u00a0the wedge pattern\u00a0with\u00a0the first two legs being\u00a0February\u00a014\u00a0and\u00a0April 16.\u00a0<\/li>\n\n\n\n<li>Traders will see if the bears can create a follow-through bear bar\u00a0closing below the 20-week EMA.<\/li>\n\n\n\n<li>If they do, that will increase the odds of\u00a0at least\u00a0a small retest of the April 16 low.<\/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>Since this\u00a0week\u2019s\u00a0candlestick is\u00a0an inside bear bar, the market is in breakout mode.<\/li>\n\n\n\n<li>The bulls want a breakout\u00a0above\u00a0while the bears want a breakout below the inside bar. The first breakout can fail 50% of the time.<\/li>\n\n\n\n<li>Sometimes\u00a0there\u00a0may be buyers\u00a0below the first pullback from such a strong bull microchannel.<\/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 79-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-Small-Retest-High.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-Small-Retest-High-680x383.jpg\" alt=\"EURUSD Daily: Wedge Bear Flag, Small Retest High?\" class=\"wp-image-209441\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-Small-Retest-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-Small-Retest-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-Small-Retest-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-Small-Retest-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/EURUSD-Daily-Wedge-Bear-Flag-Small-Retest-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>The EURUSD traded sideways to down for the week\u00a0testing\u00a0the 20-day EMA. Friday was a bull inside bar closing in its upper half.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-lower-high\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor at least a small second leg sideways to up after a\u00a0pullback.<\/li>\n\n\n\n<li>The bulls got a reversal from a 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 see this week\u00a0simply\u00a0as a pullback and want at least a small retest of the May 16 high. The small retest may happen in the first half of next week.<\/li>\n\n\n\n<li>If the market trades lower, they want a reversal from a higher low\u00a0major\u00a0trend reversal and the bull trend line to\u00a0act as support.<\/li>\n\n\n\n<li>The bears see the current move as a deep pullback\u00a0forming\u00a0a 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>They need to create consecutive bear bars closing near their lows\u00a0trading\u00a0far below the 20-day EMA to increase the odds of the bear leg beginning.<\/li>\n\n\n\n<li>If the market trades higher, the bears want a reversal from a\u00a0small double top with the May 16 high.<\/li>\n\n\n\n<li>For now, traders will see if the bulls can get at least a small second leg sideways to up early next week, followed by a strong breakout with follow-through buying.<\/li>\n\n\n\n<li>Or will the market trade slightly higher but stall around or below the May 16 high area?<\/li>\n\n\n\n<li>If the bears can create strong consecutive bear bars trading far below the 20-day EMA, the odds will swing in favor of a retest of the April 16 low.<\/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 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 There was no weekly EURUSD follow-through bull bar following last week&#8217;s close above the 20-week EMA. The bulls\u00a0need to\u00a0create follow-through buying trading above the 20-week EMA to increase the odds of retesting the December high. The bears see the\u00a0recent moves simply as a deep pullback and want at least a small [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":209438,"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-209302","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-No-FT-Bull-Bar-Inside-Bear-Doji.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\/209302","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=209302"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/209302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/209438"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=209302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=209302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=209302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}