{"id":218697,"date":"2024-09-22T01:30:00","date_gmt":"2024-09-22T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=218697"},"modified":"2024-09-21T12:40:40","modified_gmt":"2024-09-21T19:40:40","slug":"weekly-eurusd-retesting-august-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-eurusd-retesting-august-high\/","title":{"rendered":"Weekly EURUSD Retesting August High"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a weekly EURUSD retesting August High this week. The bulls need to create a follow-through bull bar breaking above the August 23 high to increase the odds of testing the July trading range high. The bears want a reversal from around the upper third of the large trading range from a double top bear flag (Dec 28 and Aug 23) and a small double top (Aug 23 and Sep 18).<\/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\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High-680x383.jpg\" alt=\"EURUSD Weekly: Double Top or Breakout &amp; Test July High?, Weekly EURUSD Retesting August High\" class=\"wp-image-218835\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-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 bull bar with a small tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-weekly-eurusd-follow-through-bear-bar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said if the market continues to stall above the 20-week EMA, we may see an attempt to retest the August 23 high in the coming weeks. Traders would see if the bull can create a strong entry bar closing near its high or if the market would trade slightly higher but stall and close with a long tail or a bear body instead.<\/li>\n\n\n\n<li>The bulls managed to create a retest of the August 23 high and a strong entry bar.<\/li>\n\n\n\n<li>They see the recent move (to Sep 11) as a two-legged pullback and want a resumption of the bull leg.<\/li>\n\n\n\n<li>They want a retest of the August 23 high and a breakout above.<\/li>\n\n\n\n<li>They need to create a follow-through bull bar breaking above the August 23 high to increase the odds of testing the July trading range high.<\/li>\n\n\n\n<li>If the market trades lower, they want the bull trend line or the 20-week EMA to act as support.<\/li>\n\n\n\n<li>The bears see the current bull leg as a buy vacuum test of the trading range high (Dec or July).<\/li>\n\n\n\n<li>They see this week as a retest of the prior high (Aug 23) forming a lower high major trend reversal.<\/li>\n\n\n\n<li>They want a reversal from around the upper third of the large trading range from a double top bear flag (Dec 28 and Aug 23) and a small double top (Aug 23 and Sep 18).<\/li>\n\n\n\n<li>They need to create consecutive bear bars closing near their lows to increase the odds of the bear leg beginning.<\/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>Traders will see if the bull can create a follow-through bull bar (even if it is a bull doji) breaking above the August high.<\/li>\n\n\n\n<li>Or will the market trade slightly higher but stall around the August 23 high area instead?<\/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 96-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\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying-680x383.jpg\" alt=\"EURUSD Daily: Double Top or Breakout with FT Buying?\" class=\"wp-image-218838\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/EURUSD-Daily-Double-Top-or-Breakout-with-FT-Buying.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. Wednesday retested the August 23 high but lacked follow-through buying. Thursday traded lower but reversed into a big bull bar. Friday was a bull doji.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-weekly-eurusd-follow-through-bear-bar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said the market may trade slightly lower early in the week. If the market continues to stall around the 20-day EMA, that will increase the odds of another retest of the August 23 high.<\/li>\n\n\n\n<li>Previously, the bulls created a tight bull channel testing the December high.<\/li>\n\n\n\n<li>They see the recent move (Sep 11) as a two-legged pullback forming a double bottom bull flag (Sep 3 and Sep 11).<\/li>\n\n\n\n<li>They got a retest of the August high and want a breakout with follow-through buying.<\/li>\n\n\n\n<li>The next target for the bulls is the July high.<\/li>\n\n\n\n<li>They must create a strong breakout (above Aug high) with follow-through buying to increase the odds of testing the July high.<\/li>\n\n\n\n<li>If the market trades lower, they want the 20-day EMA or the bull trend line to act as support.<\/li>\n\n\n\n<li>The bears see the prior rally (Aug 23) as a buy vacuum test of the trading range high.<\/li>\n\n\n\n<li>They see this week as a retest of the prior high (Aug 23) forming a lower high major trend reversal.<\/li>\n\n\n\n<li>They want a reversal from a large double top bear flag (Sep 3 and Sep 11) and a small double top (Aug 23 and Sep 18), around the upper third of the large trading range.<\/li>\n\n\n\n<li>While Thursday traded lower, the lack of follow-through selling indicates that the bears are not yet as strong as they hope to be.<\/li>\n\n\n\n<li>They must create consecutive bear bars closing near their lows and trading far below the 20-day EMA to increase the odds of the bear leg beginning.<\/li>\n\n\n\n<li>For now, the odds slightly favor sideways to up still.<\/li>\n\n\n\n<li>Traders will see if the bull can create a breakout above the August high with follow-through buying. If they can do that, the odds of retesting the July high will increase.<\/li>\n\n\n\n<li>Or will the market trade slightly higher but stall around the August high area and start to form bear bars instead?<\/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 retesting August High this week. The bulls need to create a follow-through bull bar breaking above the August 23 high to increase the odds of testing the July trading range high. The bears want a reversal from around the upper third of the large trading [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":218835,"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-218697","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\/09\/EURUSD-Weekly-Double-Top-or-Breakout-Test-July-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\/218697","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=218697"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/218697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/218835"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=218697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=218697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=218697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}