{"id":209751,"date":"2024-06-02T01:30:00","date_gmt":"2024-06-02T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=209751"},"modified":"2024-06-01T12:07:47","modified_gmt":"2024-06-01T19:07:47","slug":"eurusd-triangle","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-triangle\/","title":{"rendered":"EURUSD Triangle"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The monthly chart formed a EURUSD triangle. The bulls need to create a follow-through bull bar in June to increase the odds of higher prices. If the market trades higher, the bears want a reversal from a double top bear flag with the March 8 high.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD<\/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\/06\/EURUSD-Monthly-Middle-of-TR-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-Triangle-680x383.jpg\" alt=\"EURUSD Monthly: Middle of TR, Triangle, EURUSD Triangle\" class=\"wp-image-209814\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-Triangle-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Monthly-Middle-of-TR-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 May monthly EURUSD candlestick was a bull bar closing in its upper half and above the 20-month EMA.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/sideways-eurusd-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said that the market is trading around the middle of the trading range which is an area of balance. The odds for the bulls and bears remain\u00a0quite\u00a0equal.<\/li>\n\n\n\n<li>The bulls want a reversal from a large wedge bull flag (Mar 15, Oct 3, and\u00a0Apr 16).<\/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>Since May was a bull bar closing above the 20-month EMA, the bulls need to create a follow-through bull bar in June to increase the odds of higher prices.<\/li>\n\n\n\n<li>They need to create a strong breakout above the bear trend line with sustained follow-through buying to convince traders that they are back in control.<\/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 got a strong close below the 20-month EMA in April but were not able to create a follow-through bear bar in May.<\/li>\n\n\n\n<li>They hope that the 20-month EMA and the bear trend line will act as resistance.<\/li>\n\n\n\n<li>If the market trades higher, they want a reversal from a double top bear flag with the March 8 high.<\/li>\n\n\n\n<li>Since May is a bull bar with a small tail above, it is a buy signal bar for June.<\/li>\n\n\n\n<li>After the two-legged pullback (from Dec 28 to Apr 16) and the lack of follow-through selling (in May), odds slightly favor June to trade at least a little higher.<\/li>\n\n\n\n<li>Traders will see if the bulls can create a follow-through bull bar (even if it is only a bull doji).<\/li>\n\n\n\n<li>If they do, the odds of retesting the December high will increase.<\/li>\n\n\n\n<li>The market is trading around 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 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\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA-680x383.jpg\" alt=\"EURUSD Weekly: Doji Closing above 20-Week EMA\" class=\"wp-image-209817\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA.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> was an outside doji closing in its upper half.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-weekly-eurusd-follow-through\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that 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 and sometimes\u00a0there\u00a0may be buyers\u00a0below the first pullback from a strong bull microchannel.<\/li>\n\n\n\n<li>The market first broke above the inside bar but failed and then broke below it after that but had limited follow-through selling. The market then reversed back to almost unchanged.<\/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 had a 6-bar bull microchannel in the recent move. That means persistent buying.<\/li>\n\n\n\n<li>Sometimes\u00a0there\u00a0may be buyers\u00a0below the first pullback from such a strong bull microchannel. It was the case this week.<\/li>\n\n\n\n<li>The bulls\u00a0see the last two weeks simply as a pullback and want another leg up testing the March 8 high.<\/li>\n\n\n\n<li>They need 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 continue acting 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 small double top (May 16 and May 28).<\/li>\n\n\n\n<li>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>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>The bears hope that the bear trend line will act as resistance.<\/li>\n\n\n\n<li>Since this\u00a0week\u2019s\u00a0candlestick is\u00a0a doji bar, it is a neutral signal bar for next week.<\/li>\n\n\n\n<li>Because of the tight bull channel, odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n<li>Traders will see if the bull can create a follow-through bull bar\u00a0trading above the 20-week EMA.<\/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 an 80-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\">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 monthly chart formed a EURUSD triangle. The bulls need to create a follow-through bull bar in June to increase the odds of higher prices. If the market trades higher, the bears want a reversal from a double top bear flag with the March 8 high. EURUSD The Monthly EURUSD Forex [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":209817,"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":[],"class_list":["post-209751","post","type-post","status-publish","format-standard","has-post-thumbnail","category-forex","category-analysis","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Doji-Closing-above-20-Week-EMA.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\/209751","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=209751"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/209751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/209817"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=209751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=209751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=209751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}