{"id":221936,"date":"2024-11-03T01:30:00","date_gmt":"2024-11-03T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=221936"},"modified":"2024-11-02T01:33:07","modified_gmt":"2024-11-02T08:33:07","slug":"monthly-eurusd-pullback","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/monthly-eurusd-pullback\/","title":{"rendered":"Monthly EURUSD Pullback"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a monthly EURUSD pullback to the middle of the trading range. The bulls see the current move as a pullback and a retest of the breakout point. They want the bull trend line or the 20-month EMA to act as support followed by a retest of the recent leg high (Sep 25). To increase the odds of testing the trading range low, they need to create sustained follow-through selling trading below the 20-month EMA.<\/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>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\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT-680x383.jpg\" alt=\"EURUSD Monthly: Pullback to Middle of TR, Bears Need FT, Monthly EURUSD Pullback\" class=\"wp-image-221996\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-FT-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Monthly-Pullback-to-Middle-of-TR-Bears-Need-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>The October monthly EURUSD candlestick was a bear bar with a long tail below closing above the 20-month EMA area.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/monthly-eurusd-double-top-bear-flag\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said that traders would see if the bears can create strong bear bars with follow-through selling or if the monthly candlestick would reverse to close with a long tail or a bull body by the end of the month.<\/li>\n\n\n\n<li>The bears see the prior move (to Sep 25) as a buy vacuum test of the trading range high.<\/li>\n\n\n\n<li>They got a reversal from a double top bear flag (Dec 28 and Sept 25) and a larger double top bear flag (July 18 and Sept 25).<\/li>\n\n\n\n<li>They hope to retest the middle of the trading range (around the 20-month EMA). They got what they wanted.<\/li>\n\n\n\n<li>The next targets for the bears are the April low and the October low.<\/li>\n\n\n\n<li>To increase the odds of testing the trading range low, they need to create sustained follow-through selling trading below the 20-month EMA.<\/li>\n\n\n\n<li>The bulls see the current move as a pullback and a retest of the breakout point.<\/li>\n\n\n\n<li>They see the market as being in a broad bull channel.<\/li>\n\n\n\n<li>They want the bull trend line or the 20-month EMA to act as support followed by a retest of the recent leg high (Sep 25).<\/li>\n\n\n\n<li>So far, the market remains in a 23-month trading range.<\/li>\n\n\n\n<li>The market trades around the middle of the trading range, an area of balance.<\/li>\n\n\n\n<li>Traders will see if the bears can create a follow-through bear bar closing below the 20-month EMA.<\/li>\n\n\n\n<li>Or will the market trade slightly lower but stall and close with a long tail or a bull body instead?<\/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 BLSH (Buy Low, Sell High) until a breakout with sustained follow-through buying\/selling from either direction.<\/li>\n\n\n\n<li>That means traders will look to buy around the lower third and sell around the upper third of the 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\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel-680x383.jpg\" alt=\"EURUSD Weekly - Pullback, Sellers Above Bear Micro Channel\" class=\"wp-image-221999\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel.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&nbsp;week\u2019s&nbsp;candlestick on the&nbsp;<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\" target=\"_blank\" rel=\"noreferrer noopener\">weekly EURUSD Forex chart<\/a> was a bull bar closing in its lower half with a long tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-eurusd-bear-leg\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bears could create another follow-through bear bar or if the market would stall around the August low or the bull trend line area instead.<\/li>\n\n\n\n<li>So far, the market is temporarily finding support around the August low and bull trend line area.<\/li>\n\n\n\n<li>The bears got a strong bear leg testing the August low and the bull trend line.<\/li>\n\n\n\n<li>The move down was in a 5-bar bear microchannel which means strong selling.<\/li>\n\n\n\n<li>There may be sellers above the first pullback from such a strong bear microchannel.<\/li>\n\n\n\n<li>The bears want a retest of the trading range low.<\/li>\n\n\n\n<li>They see the move (this week) as a pullback and want at least a small second leg sideways-to-down to retest the current leg low (now Oct 25).<\/li>\n\n\n\n<li>They want the 20-week EMA to act as resistance.<\/li>\n\n\n\n<li>The bulls see the current move as a deep pullback and the market as being in a broad bull channel.<\/li>\n\n\n\n<li>They want the market to form a higher low, followed by a retest of the September 25 high.<\/li>\n\n\n\n<li>They want the August 1 low or the bull trend line to act as support.<\/li>\n\n\n\n<li>They must create strong follow-through buying over the next few weeks to show they are back in control.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick has a bull body closing below the middle of its range, it is a weak buy signal bar. It can be a sell signal bar.<\/li>\n\n\n\n<li>Because of the strong 5-bar bear microchannel, there may be sellers above the first pullback.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create a strong retest and breakout below the August low and the bull trend line.<\/li>\n\n\n\n<li>Or will the market stall around the August low and the bull trend line area, followed by a move higher in the weeks ahead instead?<\/li>\n\n\n\n<li>The market trades around the middle of the trading range, an area of balance.<\/li>\n\n\n\n<li>The EURUSD is in a 103-week trading range. (Trading range high: July 2023, low: October 2023).&nbsp;<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) within a trading range until a&nbsp;breakout with follow-through selling\/buying.<\/li>\n\n\n\n<li>That means buying in the lower third and selling near the upper third of the large 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 monthly EURUSD pullback to the middle of the trading range. The bulls see the current move as a pullback and a retest of the breakout point. They want the bull trend line or the 20-month EMA to act as support followed by a retest of the recent [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":221999,"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-221936","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\/11\/EURUSD-Weekly-Pullback-Sellers-Above-Bear-Micro-Channel.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\/221936","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=221936"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/221936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/221999"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=221936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=221936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=221936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}