{"id":215802,"date":"2024-08-25T01:30:00","date_gmt":"2024-08-25T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=215802"},"modified":"2024-08-24T14:56:12","modified_gmt":"2024-08-24T21:56:12","slug":"weekly-eurusd-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-eurusd-follow-through\/","title":{"rendered":"Weekly EURUSD Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a weekly EURUSD follow-through bull bar breaking above the December high. The bulls want a strong retest of the July high and a strong breakout with follow-through buying. The problem with the bear\u2019s case is that the move up since the June low is strong with limited selling pressure.<\/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\/08\/EURUSD-Weekly-Breakout-above-December-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-High-680x383.jpg\" alt=\"EURUSD Weekly: Breakout above December High, Weekly EURUSD Follow-through\" class=\"wp-image-215939\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Weekly-Breakout-above-December-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\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 big bull bar closing near its high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-breakout\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders will see if the bulls can create a follow-through bull bar or if the market would trade slightly higher, but stall followed by a pullback into the triangle.<\/li>\n\n\n\n<li>The bulls got a strong follow-through bull bar closing above the December 28 high.<\/li>\n\n\n\n<li>The buying pressure since the June low is stronger with consecutive bull bars than weaker bear bars with no follow-through selling.<\/li>\n\n\n\n<li>Next, they want a strong retest of the July high and a strong breakout with follow-through buying.<\/li>\n\n\n\n<li>The bears see this week as a buy vacuum test of the trading range high (July high).<\/li>\n\n\n\n<li>They want a reversal from around the upper third of the large trading range.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that the move up since the June low is strong with limited selling pressure.<\/li>\n\n\n\n<li>They must create strong consecutive bear bars to show they are back in control.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bull bar closing near its high, it is a buy signal bar for next week.<\/li>\n\n\n\n<li>Odds slightly favor the market to trade at least a little higher.<\/li>\n\n\n\n<li>Traders will see if the bulls can create another follow-through bull bar testing the July high.<\/li>\n\n\n\n<li>Or will the market trade slightly higher but stall and close with a long tail or a bear body?<\/li>\n\n\n\n<li>The market trades around the upper third of the large trading range which can be the sell zone of trading range traders.<\/li>\n\n\n\n<li>The EURUSD is in a 92-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 a\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\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High-680x383.jpg\" alt=\"EURUSD Daily: Strong Bull Leg Retest December High\" class=\"wp-image-215942\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/EURUSD-Daily-Strong-Bull-Leg-Retest-December-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 up for the week. Thursday&#8217;s candlestick was a pullback but lacked follow-through selling. Friday&#8217;s candlestick was a big bull bar closing near its high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-breakout\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market to still be in the sideways to up phase. Traders will see if the bulls can create a strong retest of the August 14 high with follow-through buying. If they do, it will increase the odds of retesting the trading range high (Dec 28).<\/li>\n\n\n\n<li>The bulls got a retest and breakout above the December 28 high.<\/li>\n\n\n\n<li>The move is in a tight bull channel with strong consecutive bull bars and bear bars with limited follow-through selling. That means strong bulls.<\/li>\n\n\n\n<li>Next, they want a strong retest of the July high and a breakout with follow-through buying.<\/li>\n\n\n\n<li>If the market trades lower, the bulls want the 20-day EMA to act as support.<\/li>\n\n\n\n<li>The bears see the current move as a buy vacuum test of the trading range high.<\/li>\n\n\n\n<li>They want a reversal from a parabolic wedge (Aug 5, Aug 14, and Aug 23) and a failed breakout above the December high.<\/li>\n\n\n\n<li>They want a reversal from around the upper third of the large trading range.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that the buying pressure is stronger (consecutive bull bars) than the weaker selling pressure (bear bars with no follow-through selling).<\/li>\n\n\n\n<li>They must create consecutive bear bars trading near their lows and trading far below the 20-day EMA to show that they are back in control.<\/li>\n\n\n\n<li>So far, the move up since the August 1 low is strong in a tight bull channel.<\/li>\n\n\n\n<li>Odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n<li>If there is a pullback, traders expect at least a small sideways to up leg to retest the current leg extreme high (now Aug 23).<\/li>\n\n\n\n<li>For now, traders will see if the bulls can create a retest of the July high or if the market will trade slightly higher but stall and form a minor pullback.<\/li>\n\n\n\n<li>The market is trading near the upper third of the large trading range which can be the sell zone of trading range traders.<\/li>\n\n\n\n<li>Traders will continue to\u00a0BLSH (Buy Low, Sell High) within a trading range until\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 formed a weekly EURUSD follow-through bull bar breaking above the December high. The bulls want a strong retest of the July high and a strong breakout with follow-through buying. The problem with the bear\u2019s case is that the move up since the June low is strong with limited selling [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":215939,"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-215802","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\/08\/EURUSD-Weekly-Breakout-above-December-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\/215802","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=215802"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/215802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/215939"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=215802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=215802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=215802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}