Market Overview: Weekend Market Analysis The EURUSD Forex has been trading sideways for the last 2 to 3 weeks. The bears want a reversal lower from a double top bear flag or a wedge bear flag. If the EURUSD sideways pullback continues, odds are sellers will return to sell the pullback. The bulls want this […]
EURUSD in pullback from parabolic wedge on weekly and daily charts
EURUSD Forex: Weekend Market Analysis The EURUSD Forex is in a pullback from parabolic wedge sell-off testing the 700-pip measured move which started in October 2020. Traders are monitoring whether the bulls can create consecutive bull bars closing near their highs or the pullback is more sideways with weak bull bars. The leg down from February is […]
Emini stalls forming third leg sideways to down
Market Overview: Weekend Market Analysis The SP500 Emini futures stalled and formed the 3rd leg sideways to down. Bears want a strong break below the February 24 low followed by a measured move down. They need next week to close as another bear follow-through bar. If they get that, the odds of a breakout below February 24 […]
Emini weak follow-through buying so far
Market Overview: Weekend Market Analysis The SP500 Emini futures triggered the high 2 buy signal this week on the weekly chart, but weak follow-through buying so far. Traders are looking to see if the bulls can create another leg higher. If the Emini stalls at the February 2 lower high, odds are sellers will return […]
Emini breakout below OO but no follow-through selling
Market Overview: Weekend Market Analysis The SP500 Emini futures traded below January low, triggering the sell signal from the second OO pattern on the monthly chart. However, there was no follow-through selling and the Emini reversed back above the middle of the bar. Monday is the final day of the month. The bulls want a close far […]
Market outlook for 2021: EURUSD Forex
Video duration 9min 13sec. Market outlook video reports for 2021: Market outlook for BitcoinMarket outlook for Bond futuresMarket outlook for Crude oilMarket outlook for S&P500 EminiMarket outlook for EURUSD ForexMarket outlook for Gold futures Video transcript Introduction Hi, everyone. I’m Al Brooks. Thank you so much for your attention. At the end of every day, […]
Foreign currency exchange trade of the week, February 7, 2015:
Forex double top bear flag
Example of foreign currency exchange trade of the week: Forex double top bear flag in USDCAD 5 minute chart The 5 minute Forex USDCAD candle chart had a strong rally, but failed to get above the prior lower high. This trapped bulls into buying high and bears into waiting to short. The 5 minute Forex […]
Weekly Forex update, January 24, 2015:
Sell climax and an exhaustion gap
Monthly Forex EURUSD candle chart: Strong bear breakout below head and shoulders bottom The monthly EURUSD Forex chart is in a strong breakout below a head and shoulders bottom. A failed bottom usually falls for at least two legs and it typically reaches a measured move projection. The monthly Forex EURUSD candle chart is breaking […]
Forex scalps, December 4, 2014
The weekly EURUSD chart is forming a wedge bottom and traders are buying low. Day traders are more willing to look to buy, especially strong reversals up. There were several scalps up and down on the 5 minute chart today. I have had many requests to post Forex scalps, and am doing so today. On […]
Forex price action showing trend reversal
The Forex market daily chart of the EURUSD cross has been in a trading range for months and had a sharp selloff down to an area where buyers came in during February and April. Traders watching this Forex price action found a day trading opportunity today on the 5 minute chart. The 5 minute Euro […]