Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EUR/USD: Will Today Be Both A Buy And Sell Signal Bar Day?

By Al BrooksForexDec 01, 2021 10:18AM ET
www.investing.com/analysis/eurusd-will-today-be-both-a-buy-and-sell-signal-bar-day-200610111
EUR/USD: Will Today Be Both A Buy And Sell Signal Bar Day?
By Al Brooks   |  Dec 01, 2021 10:18AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Yesterday was a big bar with big tail above and below for EUR/USD. It was a trading range bar. It increases the chance of a trading range over the next couple of weeks. Trading ranges often have both double tops and double bottoms. A test of the Nov. 24 low and a bounce would create a double bottom.

Tuesday had a bull body and it followed a reversal up from a parabolic wedge and a failed breakout below the bear channel on the weekly chart. It will probably trade sideways to up for at least a couple weeks. But sideways means that it might test last week’s low before going up.

There is an increased chance that today will remain an inside day. It would then be both a buy and sell signal bar.

The bears hope that yesterday formed a double top bear flag with the Nov. 18 high. They hope today to close near its low so that it would be a higher probability sell signal bar. They want an outside down bar on the weekly chart and a resumption of the bear trend. They are hoping that the 2021 bear trend falls below the last year’s low and the bottom of the 7-year trading range.

Since the monthly chart has been in a trading range for 7 years, it is more likely that the EUR/USD pair will enter a trading range lasting a couple months before it breaks to a new low, if it breaks to a new low. Last week might be the start of the trading range.

Bulls want today to close near its high. They hope that last week’s reversal up is the start of a Small Pullback bull trend that will continue to the Nov. 9 high, which is the top of the most recent sell climax. The probability will be greater if today closes near its high.

The context on the daily and weekly charts still favors sideways to up trading for at least a couple weeks. There might be more buyers than sellers below last week’s low. If the bulls start to get a series of bull bars, traders will begin to look for a trading range that could last a couple months.

EUR/USD Daily Chart
EUR/USD Daily Chart

EUR/USD: Will Today Be Both A Buy And Sell Signal Bar Day?
 

Related Articles

Ashraf Laidi
The Other Dollar Index By Ashraf Laidi - Jan 28, 2022

Just as you become more certain the US dollar will go nowhere but up, you stumble into this analysis, suggesting other ideas. No, this is not a piece explaining the Fed's inability...

EUR/USD: Will Today Be Both A Buy And Sell Signal Bar Day?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email