{"id":223813,"date":"2024-11-24T01:30:00","date_gmt":"2024-11-24T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=223813"},"modified":"2024-11-23T07:22:36","modified_gmt":"2024-11-23T15:22:36","slug":"eurusd-breakout-below-the-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-breakout-below-the-trading-range\/","title":{"rendered":"EURUSD Breakout Below the Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The market formed a EURUSD breakout below the trading range this week. The bears want follow-through selling and a measured move down based on the height of the trading range. The bulls want a failed breakout and the trading range low to act as support followed by a retest of the middle of the trading range.<\/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\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low-680x383.jpg\" alt=\"EURUSD Weekly - Breakout Below Trading Range Low, EURUSD Breakout Below the Trading Range\" class=\"wp-image-223919\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Weekly-Breakout-Below-Trading-Range-Low.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 long tails below and above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-strong-bear-leg\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said the market may still trade slightly lower to test the October low area. Traders will see if the bears can create a strong follow-through bear bar and a breakout below the trading range low.<\/li>\n\n\n\n<li>The bears got another follow-through bear bar and a breakout below the trading range low. The long tail below this week\u2019s candlestick indicates a weaker breakout bar.<\/li>\n\n\n\n<li>They want follow-through selling and a measured move down based on the height of the trading range.<\/li>\n\n\n\n<li>Because of the strong leg down (from Sept), the bears expect to get (at least) a small sideways to down leg to retest the current extreme low (now Nov 22) after a pullback.<\/li>\n\n\n\n<li>The bulls see the current move as a sell vacuum and a bear leg within a trading range.<\/li>\n\n\n\n<li>They want a failed breakout and the trading range low to act as support followed by a retest of the middle of the trading range.<\/li>\n\n\n\n<li>They want a reversal from a large double bottom bull flag (Oct 3 and Nov 22).<\/li>\n\n\n\n<li>They must create consecutive bull bars closing near their highs to indicate that they are back in control.<\/li>\n\n\n\n<li>Until they can do that, traders will not be willing to buy aggressively.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear bar closing in its lower half, it is a sell signal bar for next week albeit weaker (long tail below).<\/li>\n\n\n\n<li>The move down is strong with big bear bars covering many pips and a micro gap.<\/li>\n\n\n\n<li>Odds slightly favor the market to still be in the sideways to down phase even if there is a pullback.<\/li>\n\n\n\n<li>Traders will see if the bears can create follow-through selling below the trading range low.<\/li>\n\n\n\n<li>Or will we see some profit taking around the current levels?<\/li>\n\n\n\n<li>Most breakouts from the trading ranges fail and odds favor the trading range to continue.<\/li>\n\n\n\n<li>However, if the bears can create sustained follow-through selling, the odds of a successful breakout and a measured move increase.<\/li>\n\n\n\n<li>The market is trading around the trading range low which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The EURUSD is in a 106-week trading range. (Trading range high: July 2023, low: October 2023).\u00a0<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) within a trading range until a\u00a0breakout with follow-through selling\/buying.<\/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\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge-680x383.jpg\" alt=\"EURUSD Daily - BO Below TR, Parabolic Wedge\" class=\"wp-image-223922\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-BO-Below-TR-Parabolic-Wedge.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 in the first half of the week. Wednesday traded higher but reversed into an outside bear bar with follow-through selling on Thursday. Friday broke below the trading range low but closed with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-strong-bear-leg\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said the market may still trade at least a little lower to test the trading range low area. Because of the strong move down, odds favor at least a small second leg sideways to down after a pullback.<\/li>\n\n\n\n<li>The bulls see the current move as a sell vacuum and a bear leg testing the trading range low.<\/li>\n\n\n\n<li>They want a reversal from a large double bottom bull flag (Oct 3 and Nov 22) and a parabolic wedge (Nov 6, Nov 14, and Nov 22) followed by a reversal to the middle of the trading range.<\/li>\n\n\n\n<li>They want a failed breakout and hope that the trading range low will act as support.<\/li>\n\n\n\n<li>They must create consecutive bull bars closing near their highs to indicate that they are back in control.<\/li>\n\n\n\n<li>The bears got a strong second leg sideways to down breaking below the trading range low.<\/li>\n\n\n\n<li>The move down is in a tight bear channel. That means strong bears.<\/li>\n\n\n\n<li>Next, the bears want follow-through selling and a measured move down based on the height of the trading range.<\/li>\n\n\n\n<li>If there is a pullback, the bears expect to get at least a small second leg sideways to down to retest the current leg extreme low (now Nov 22) after a larger (two-or-three-legged) pullback.<\/li>\n\n\n\n<li>They want the 20-day EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>So far, the bear leg is strong.<\/li>\n\n\n\n<li>The move down while strong, may still only be a sell vacuum within a trading range. Most breakouts from trading ranges fail and odds favor the trading range to continue.<\/li>\n\n\n\n<li>However, if the bears create sustained follow-through selling, the odds of a successful breakout and a measured move down will increase.<\/li>\n\n\n\n<li>For now, the market remains in the sideways to down phase and favor at least a small second leg sideways to down after a pullback.<\/li>\n\n\n\n<li>Traders will see if the bears can create follow-through selling below the trading range.<\/li>\n\n\n\n<li>Or will buyers appear around the trading range lows instead?<\/li>\n\n\n\n<li>The low of the large trading range can be the buy 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<\/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 EURUSD breakout below the trading range this week. The bears want follow-through selling and a measured move down based on the height of the trading range. The bulls want a failed breakout and the trading range low to act as support followed by a retest of the [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":223919,"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-223813","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-Breakout-Below-Trading-Range-Low.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\/223813","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=223813"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/223813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/223919"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=223813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=223813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=223813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}