{"id":224212,"date":"2024-12-01T01:30:00","date_gmt":"2024-12-01T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=224212"},"modified":"2024-12-01T01:54:21","modified_gmt":"2024-12-01T09:54:21","slug":"eurusd-breakout-below-trading-range-low","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/eurusd-breakout-below-trading-range-low\/","title":{"rendered":"EURUSD Breakout Below the Trading Range Low"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: EURUSD Forex<\/h2>\n\n\n\n<p>The EURUSD breakout below the trading range low in November but closed with a long tail and above the October 3 high. The bears want a strong breakout below the trading range (October low) followed by a measured move using the height of the trading range. The bulls want a failed breakout below the trading range and a reversal from a large double bottom bull flag (Oct 3 and Nov 22).<\/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\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range-680x383.jpg\" alt=\"EURUSD Monthly - Test Bottom of Trading Range, EURUSD Breakout Below the Trading Range Low\" class=\"wp-image-224428\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Monthly-Test-Bottom-of-Trading-Range.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 November monthly EURUSD candlestick was a big bear bar with a long tail below, closing in its lower half.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/monthly-eurusd-pullback\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said traders would see if the bears could create a follow-through bear bar closing below the 20-month EMA or if the market would trade slightly lower but stall and close with a long tail or a bull body instead.<\/li>\n\n\n\n<li>The market traded sharply lower breaking far below the trading range low but closed above the October 3 low.<\/li>\n\n\n\n<li>The bears 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 want a strong breakout below the trading range (October low) followed by a measured move using the height of the trading range.<\/li>\n\n\n\n<li>At a minimum, they hope to get another leg down to complete the micro wedge pattern with the first two legs being the October 23 and November 22 lows.<\/li>\n\n\n\n<li>They need to create a strong breakout below the trading range low with sustained follow-through selling trading to increase the odds of a measured move down.<\/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 below the trading range and a reversal from a large double bottom bull flag (Oct 3 and Nov 22).<\/li>\n\n\n\n<li>They hope the bottom of the trading range will act as support.<\/li>\n\n\n\n<li>So far, the market remains in a 24-month trading range.<\/li>\n\n\n\n<li>The market trades around the lower third of the trading range which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>Most breakouts from trading ranges fail and odds favor the trading range to continue.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create another leg down to complete the micro wedge pattern (the first two legs being Oct 23 and Nov 22).<\/li>\n\n\n\n<li>Or will we see more profit-taking activity around the lower third of the large trading range 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<\/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\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback-680x383.jpg\" alt=\"EURUSD Weekly - Parabolic Wedge, Bottom of TR, Pullback\" class=\"wp-image-224431\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback.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 an inside bull bar closing near its high with a prominent tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/eurusd-breakout-below-the-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that odds slightly favor the market to still be in the sideways to down phase even if there is a pullback. Traders would see if the bears could create follow-through selling below the trading range low or if we would see some profit-taking around the current levels.<\/li>\n\n\n\n<li>This week was a pullback following the breakout below the trading range low. The bears did not get a follow-through bear bar.<\/li>\n\n\n\n<li>Previously, the bears got a strong bear leg breaking below the trading range low.<\/li>\n\n\n\n<li>They see this week as a breakout pullback. They want a resumption of the move followed by 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>They want another leg down to complete the wedge pattern (the first two legs being Oct 23 and Nov 22).<\/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 (around the 20-week EMA).<\/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>The bulls hope to get a strong entry bar next week by getting a breakout above the inside bar followed by a retest of the middle of the trading range.<\/li>\n\n\n\n<li>If the market trades lower, they see it as a retest of the prior leg&#8217;s extreme low and want a small double bottom with the November 22 low.<\/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>Since this week\u2019s candlestick is an inside bull bar closing near its high, the market is in breakout mode.<\/li>\n\n\n\n<li>Because it is a bull bar closing near its high, the first breakout may be above the inside bar. The first breakout can fail 50% of the time.<\/li>\n\n\n\n<li>For now, the market may still be in the sideways to up pullback phase.<\/li>\n\n\n\n<li>The prior bear leg was strong and in a tight bear channel.<\/li>\n\n\n\n<li>Odds slightly favor at least a small sideways to down leg after the current pullback.<\/li>\n\n\n\n<li>Traders will see if the bulls can create a strong bull entry bar (a follow-through bull bar).<\/li>\n\n\n\n<li>Or if the market will trade slightly higher but close with a bear body or a long tail above.<\/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>If the bears can create a strong breakout with sustained follow-through selling, the odds of a successful breakout and a measured move will increase.<\/li>\n\n\n\n<li>The market is trading around the lower third of the trading range which can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The EURUSD is in a 107-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\">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 EURUSD breakout below the trading range low in November but closed with a long tail and above the October 3 high. The bears want a strong breakout below the trading range (October low) followed by a measured move using the height of the trading range. The bulls want a failed [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":224431,"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-224212","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\/12\/EURUSD-Weekly-Parabolic-Wedge-Bottom-of-TR-Pullback.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\/224212","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=224212"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/224212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/224431"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=224212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=224212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=224212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}