{"id":210632,"date":"2024-06-16T01:30:00","date_gmt":"2024-06-16T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=210632"},"modified":"2024-06-15T12:22:43","modified_gmt":"2024-06-15T19:22:43","slug":"eurusd-bears-need-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-bears-need-follow-through\/","title":{"rendered":"EURUSD Bears Need Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The EURUSD bears need follow-through selling following this week&#8217;s bear bar closing below the 20-week EMA. The bulls want a reversal from a higher low major trend reversal or a double bottom with the April low. The EURUSD is trading near the lower third of the smaller trading range which can be the buy zone of trading range traders.<\/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\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling-680x383.jpg\" alt=\"EURUSD Weekly: Test April Low, Bears Need FT Selling, EURUSD Bears Need Follow-through\" class=\"wp-image-210740\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling.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 a bear bar closing in its lower half with a prominent tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-double-top-bear-flag\/\">Last week<\/a>, we said that the bears would need to create a follow-through bear bar below the 20-week EMA to increase the odds of retesting the April 16 low.<\/li>\n\n\n\n<li>The bears got what they wanted.<\/li>\n\n\n\n<li>They see the\u00a0move up to June 4 simply as a deep pullback and want a small retest of the\u00a0April 16\u00a0low (even if it forms a higher low).<\/li>\n\n\n\n<li>They got a reversal from a wedge bear flag (Apr 26,\u00a0May 3, and\u00a0May 16), a double top bear flag (Apr 9\u00a0and\u00a0May 16) and a small double top (May 16 and Jun 4).<\/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.\u00a0The third leg down is currently underway.<\/li>\n\n\n\n<li>The bears need to create strong consecutive bear bars closing near their lows to increase the odds of retesting the October low.<\/li>\n\n\n\n<li>Previously, the bulls had a tight bull channel but have only reached a lower high.<\/li>\n\n\n\n<li>They hope that the last 2 weeks were simply a pullback.\u00a0<\/li>\n\n\n\n<li>They want the bull trend line to act as support.<\/li>\n\n\n\n<li>They want a reversal from a higher low major trend reversal or a double bottom with the April low.<\/li>\n\n\n\n<li>Since this week is a bear bar closing in its lower half, it is a sell signal bar for next week.<\/li>\n\n\n\n<li>Traders will see if the bears can create more follow-through selling, or if the market starts to stall around the current levels (around the bull trend line area).<\/li>\n\n\n\n<li>For now, the odds slightly favor the market to still be in the sideways to down phase.<\/li>\n\n\n\n<li>However, the EURUSD is trading near the lower third of the smaller trading range which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The bull trend line can be a possible support area.<\/li>\n\n\n\n<li>The EURUSD is in an 82-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\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line-680x383.jpg\" alt=\"EURUSD Daily: Test April Low &amp; Bull Trend Line\" class=\"wp-image-210743\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/EURUSD-Daily-Test-April-Low-Bull-Trend-Line.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 gapped down on Monday with some follow-through selling. Wednesday was a big pullback but had no follow-through buying. The market resumed lower for the rest of the week with Friday closing with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-double-top-bear-flag\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders will see if the bears can create sustained follow-through selling. If they do, the odds will swing in favor of a retest of the April 16 low.<\/li>\n\n\n\n<li>The bulls see the current move simply as a deep pullback.<\/li>\n\n\n\n<li>They want the market to stall around the current levels and form a reversal from a higher low\u00a0major\u00a0trend reversal.<\/li>\n\n\n\n<li>If the market trades lower, they want the bull trend line to act as support.<\/li>\n\n\n\n<li>The bears got a reversal from\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>At the least, they want\u00a0a small retest of the\u00a0April 16\u00a0low, even if it only forms a higher low. They got what they wanted.<\/li>\n\n\n\n<li>The next target for the bears is the April 16 low.<\/li>\n\n\n\n<li>If there is a pullback, they want the bear trend line or the 20-day EMA to act as resistance.<\/li>\n\n\n\n<li>For now, traders will see if the bears can continue to create follow-through selling.<\/li>\n\n\n\n<li>The market is trading around the lower third of the smaller trading range which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The bull trend line could also be a potential support area.<\/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 EURUSD bears need follow-through selling following this week&#8217;s bear bar closing below the 20-week EMA. The bulls want a reversal from a higher low major trend reversal or a double bottom with the April low. The EURUSD is trading near the lower third of the smaller trading range which can [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":210740,"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-210632","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\/06\/EURUSD-Weekly-Test-April-Low-Bears-Need-FT-Selling.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\/210632","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=210632"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/210632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/210740"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=210632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=210632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=210632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}