{"id":220310,"date":"2024-10-13T01:30:00","date_gmt":"2024-10-13T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=220310"},"modified":"2024-10-13T01:39:10","modified_gmt":"2024-10-13T08:39:10","slug":"weekly-eurusd-bears-need-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-eurusd-bears-need-follow-through\/","title":{"rendered":"Weekly EURUSD Bears need Follow-through"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The weekly Eurusd bears need follow-through selling next week to increase the odds of a bear leg. The bulls see the last two weeks as a pullback and retest of the breakout point. They want the market to form a higher low, followed by a retest of the September 25 high and the bull trend line or the 20-week EMA to act as support.<\/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\/10\/EURUSD-Weekly-Bears-Need-More-FT.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT-680x383.jpg\" alt=\"EURUSD Weekly: Bears Need More FT, Weekly EURUSD Bears need Follow-through\" class=\"wp-image-220433\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Weekly-Bears-Need-More-FT.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 small bear bar closing below the middle of its range with tails above and below (looks like a doji bar).<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/monthly-eurusd-double-top-bear-flag\/\">Last week<\/a>, we said that the odds slightly favor the market to trade a little lower. Traders would see if the bears could create a follow-through bear bar closing below the 20-week EMA or if the market would trade lower but reverse to close with a long tail or a bull body instead.<\/li>\n\n\n\n<li>The bears got a follow-through bear bar closing below the 20-week EMA.<\/li>\n\n\n\n<li>They see the recent bull leg as a buy vacuum test of the trading range high (Dec or July).<\/li>\n\n\n\n<li>They got a reversal from around the upper third of the large trading range from a double top bear flag (Dec 28 and Aug 23), a higher high major trend reversal (Sep vs Aug) and a small double top (Aug 23 and Sep 25).<\/li>\n\n\n\n<li>They hope to get the start of the bear leg. They want a test of the middle of the trading range at least.<\/li>\n\n\n\n<li>Since this week closed below the 20-week EMA, the bears must create a follow-through bear bar to increase the odds of lower prices.<\/li>\n\n\n\n<li>If the market trades higher, they want it to form a lower high followed by a second leg sideways to down.<\/li>\n\n\n\n<li>The bulls broke out above the August 23 high (in September) but lacked follow-through buying.<\/li>\n\n\n\n<li>They see the last two weeks as a pullback and retest of the breakout point.<\/li>\n\n\n\n<li>They want the market to form a higher low, followed by a retest of the September 25 high and the bull trend line or the 20-week EMA to act as support.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear bar closing slightly below the middle of its range, it can be a sell signal bar for next week.<\/li>\n\n\n\n<li>Traders will see if the bears can create another follow-through bear bar.<\/li>\n\n\n\n<li>Or will the market trade slightly lower but stall around the October 10 low area and form a pullback higher instead?<\/li>\n\n\n\n<li>The middle of the trading range can be an area of balance.<\/li>\n\n\n\n<li>The EURUSD is in a 100-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\/10\/EURUSD-Daily-PB-to-Breakout-Point.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point-680x383.jpg\" alt=\"EURUSD Daily: PB to Breakout Point\" class=\"wp-image-220436\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/EURUSD-Daily-PB-to-Breakout-Point.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 formed a small pullback early in the week followed by a move lower on Wednesday. Thursday traded lower but closed around unchanged. Friday was an inside bull doji.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-retesting-august-high\/\">Previously<\/a>, we said that traders would see if the bull could create a breakout above the August high with follow-through buying or if the market would stall around the August high area and start to form a pullback towards the September 11 low instead.<\/li>\n\n\n\n<li>The market stalled at the August high area and formed a pullback.<\/li>\n\n\n\n<li>The bulls got a retest of the August high (in September) but could not create a strong breakout.<\/li>\n\n\n\n<li>They see the current move as a pullback (possibly two-legged) following a wedge pattern (Jul 17, Aug 23, and Sep 25) and a double top (Aug 23 and Sep 25).<\/li>\n\n\n\n<li>They want the pullback to form a higher low followed by a retest of the September 25 High.<\/li>\n\n\n\n<li>They must create a few strong consecutive bull bars to indicate that they are back in control.<\/li>\n\n\n\n<li>The bears got a reversal from a large double top bear flag (Dec 28 and Aug 23), a wedge pattern (Jul 17, Aug 23, and Sep 25) and a small double top (Aug 23 and Sep 25), around the upper third of the large trading range.<\/li>\n\n\n\n<li>The move down is in a tight bear channel which means persistent selling.<\/li>\n\n\n\n<li>If there is a pullback, the bears want a second leg sideways to down to retest the current leg low (now Oct 10).<\/li>\n\n\n\n<li>For now, traders will see if the bull can create a pullback towards the 20-day EMA.<\/li>\n\n\n\n<li>Or will the market form a second leg sideways to down (towards the middle of the trading range) after a pullback?<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/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<\/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 weekly Eurusd bears need follow-through selling next week to increase the odds of a bear leg. The bulls see the last two weeks as a pullback and retest of the breakout point. They want the market to form a higher low, followed by a retest of the September 25 high [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":220433,"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-220310","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\/10\/EURUSD-Weekly-Bears-Need-More-FT.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\/220310","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=220310"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/220310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/220433"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=220310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=220310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=220310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}