EURUSD Midweek Reversal: Forex Chart Markups, 22 June 2026

The EURUSD midweek reversal of 24 June 2026 turned at 1.13245 on Wednesday at 09:00 New York, with a W formation at the low of the week, and climbed 109 pips by Friday. It was not a clean textbook cycle: price ran 51 pips past Tuesday's low before turning, and the reversal gave back 73% of the induction, not all of it. The week was heavy on partials, 12 against 5 textbook setups.

The week in brief

• Markets: the seven forex majors and gold (XAUUSD, counted at 1 pip = $1), on 15-minute and 1-hour candles.
• Daily setups: 5 textbook and 12 partial.
• Weekly cycle: 3 of 8 markets turned midweek (EURUSD, USDCHF and USDCAD).
• Setup of the week: EURUSD on Wednesday, W formation, 5 of 8 on confluence: 43 pips that day, 109 on the week.
• News in sync with a stop hunt: CAD BoC Consumer Price Index Core (YoY), CAD Consumer Price Index (YoY); EUR HCOB Composite PMI (03:30), HCOB Manufacturing PMI (03:30), HCOB Services PMI (03:30), HCOB Composite PMI; USD Core Personal Consumption Expenditures - Price Index (MoM), USD Core Personal Consumption Expenditures - Price Index (YoY).

EURUSD midweek reversal: how to read these chart markups

A quick key for new readers. These charts use reverse price action, which is reverse psychology applied to the chart: the textbook breakout is treated as the trap, not the trade. The Asian range (blue box) is where retail marks support and resistance. The retail stop losses (red crosses) rest just beyond it. The stop hunt (hatched zone) is price collecting them, and the pips figure in the header is the reversal that followed. Start with How to Read a Forex Chart Markup.

The week at a glance: confluence ranking

Every daily setup of the week on one page, best first. The score is a tally of the eight confirmations the method lists, and the last column says what the rest of the week did with each level. EURUSD leads with 5 of 8.

The weekly cycle: induction, trap, reversal

The weekly cycle is the bigger picture behind every daily setup: an induction trend early in the week, the high or low of the week on Tuesday or Wednesday, then the reversal. We only draw it when the week actually turned, and each chart carries a checklist of which parts held. The idea is laid out in How to Read a Forex Chart Markup.

EURUSD · 109-pip reversal. The trap printed the low of the week at 1.13245 on Wednesday 09:00 New York, and the reversal ran 109 pips to 1.14338 by Friday. 2 of 4 textbook checks held; the miss: it ran 51 pips past Tuesday's low, more than a stop hunt.

USDCAD · 79-pip reversal. The trap printed the high of the week at 1.42477 on Wednesday 09:00 New York, and the reversal ran 79 pips to 1.41687 by Friday. 2 of 4 textbook checks held; the miss: it ran 31 pips past Tuesday's high, more than a stop hunt.

USDCHF · 74-pip reversal. The trap printed the high of the week at 0.81393 on Wednesday 09:15 New York, and the reversal ran 74 pips to 0.80654 by Friday. 2 of 4 textbook checks held; the miss: no induction trend, Sun to Tue ranged instead of trending.

No weekly cycle chart for GBPUSD, USDJPY, AUDUSD, NZDUSD and Gold (XAUUSD): those markets did not make a midweek high or low and then reverse by at least 1.25 average daily ranges.

Setup of the week: EURUSD W formation, 24 June 2026

EURUSD spent the Asian session in a 26-pip range between 1.13574 and 1.13836. London then broke the low of that range by 20 pips, to 1.13369 at 07:00 New York: the breakdown the crowd sells. Price pulled back to a neckline at 1.13489, then ran a second leg to 1.13245 at 09:00 New York, 12 pips past the first leg. That second leg is the stop hunt. It took the stops resting below the first leg and trapped everyone who sold the new low. From there price reversed 43 pips to 1.13679 in 3h 30m, back inside the Asian range.

Now read it in reverse. At each of those prices, whose orders were waiting?

Where the retail stops were

• Buyers' stops below the Asian low, 1.13574: taken by the first leg.
• New stops below the first leg, 1.13369: taken by the second leg.
• Sellers' stops above the neckline, 1.13489: taken as the reversal broke it.
• Sellers' stops above the Asian high, 1.13836: not reached.

The trade. The method buys against the breakout, on the second leg at the low of the day (1.13245). The stricter trigger, the first 15-minute close back inside, came with 13 pips of risk to the extreme and 30 pips to the high of the day, about 1 to 2.3. The method skips anything under 1 to 3, so from that trigger this one does not qualify. These numbers are measured after the fact from 15-minute candles.

Confirmations: 5 of 8. It had a second-leg stop hunt, a hunt at a session open, a Tuesday or Wednesday date, the high or low of the week and induction from the week's open. Missing: a clear Asian range, the previous day's level taken and high-impact news in sync. It is the low of the week.

The rules for this pattern are in How to Read a Forex Chart Markup. For another W formation, on GBPUSD, see GBPUSD midweek reversal, week of 6 July 2026.

Textbook setups, day by day

A setup is textbook when the reversal clears the whole Asian range, or runs at least three quarters of the pair's average daily range. The daily cycle behind all of them, Asia consolidating, London breaking out and the reversal after, is covered in How to Read a Forex Chart Markup.

Tuesday · EURUSD · London stop hunt (63 pips). London took the stops above the Asian high at 1.14390 (03:15 New York); the reversal went through the whole Asian range.

Thursday · USDCAD · London stop hunt (71 pips). London took the stops above the Asian high at 1.42477 (07:30 New York); the reversal went through the whole Asian range.

Thursday · EURUSD · W formation (55 pips). The second leg took the stops below the first leg at 1.13333 (07:45 New York); the reversal went through the whole Asian range.

Thursday · USDCHF · New York stop hunt (45 pips). New York took the stops above the Asian high at 0.81345 (08:15 New York); the reversal went through the whole Asian range.

Friday · EURUSD · M formation (53 pips). The second leg took the stops above the first leg at 1.14338 (08:45 New York); the reversal went back inside the Asian range.

Partial setups: the structure without the follow-through

These printed the structure, but the reversal stalled inside the Asian range. They are worth studying for exactly that reason: the trap was real and the payoff was small.

Monday · USDCAD · New York stop hunt (34 pips). New York took the stops below the Asian low at 1.41443 (08:30 New York); the reversal went back inside the Asian range.

Monday · USDCHF · M formation (24 pips). The second leg took the stops above the first leg at 0.80971 (10:00 New York); the reversal went back inside the Asian range.

Tuesday · USDJPY · W formation (35 pips). The second leg took the stops below the first leg at 161.270 (04:00 New York); the reversal went back inside the Asian range.

Wednesday · NZDUSD · W formation (23 pips). The second leg took the stops below the first leg at 0.56305 (06:30 New York); the reversal went back inside the Asian range.

Wednesday · USDCAD · M formation (33 pips). The second leg took the stops above the first leg at 1.42477 (09:00 New York); the reversal went back inside the Asian range.

Wednesday · USDCHF · M formation (26 pips). The second leg took the stops above the first leg at 0.81393 (09:15 New York); the reversal went back inside the Asian range.

Thursday · USDJPY · London stop hunt (39 pips). London took the stops above the Asian high at 161.948 (07:45 New York); the reversal went back inside the Asian range.

Friday · USDCAD · W formation (31 pips). The second leg took the stops below the first leg at 1.41687 (09:15 New York); the reversal went back inside the Asian range.

Friday · USDCHF · W formation (36 pips). The second leg took the stops below the first leg at 0.80654 (10:00 New York); the reversal went back inside the Asian range.

Friday · AUDUSD · New York stop hunt (26 pips). New York took the stops above the Asian high at 0.69167 (10:15 New York); the reversal went back inside the Asian range.

Friday · GBPUSD · M formation (42 pips). The second leg took the stops above the first leg at 1.32317 (10:15 New York); the reversal went back inside the Asian range.

Daily and weekly confluence, pair by pair

Each chart pins a pair's daily setups on its hourly chart for the week. The solid line is the move that day, the dashed line is how far it ran before the level was traded back through, and a gold band marks a weekly reversal. The table under each chart ticks the confirmations.

EURUSD. 4 setups, best 5 of 8 (Wednesday, W off the low).

GBPUSD. 1 setup, best 3 of 8 (Friday, M off the high). No midweek reversal.

USDJPY. 2 setups, best 4 of 8 (Tuesday, W off the low). No midweek reversal.

USDCHF. 4 setups, best 5 of 8 (Wednesday, M off the high).

AUDUSD. 1 setup, best 0 of 8 (Friday, New York stop hunt at the high). No midweek reversal.

USDCAD. 4 setups, best 5 of 8 (Wednesday, M off the high).

NZDUSD. 1 setup, best 3 of 8 (Wednesday, W off the low). No midweek reversal.

What this week teaches about reverse price action

A midweek reversal does not need to be perfect to be real, and the checklist on each weekly chart is there to keep us honest about the difference. EURUSD trended down from Sunday to Wednesday, which is the induction the method describes. But the trap was a 51-pip run through the prior low, not a quick poke, so sellers had room to feel right. The more comfortable the trend feels on Wednesday, the more stops there are above it for Thursday and Friday.

On the news itself: the event gives the crowd its reason, and the chart shows where the orders already were.

Frequently asked questions

What was the best forex setup in the week of 22 June 2026?

By confluence, EURUSD on Wednesday: a W off the low that scored 5 of 8. It moved 43 pips that day and 109 on the week. It was the low of the week.

Was there a midweek reversal in the week of 22 June 2026?

Yes, on 3 of the 8 markets we track: EURUSD, USDCHF and USDCAD. The largest was EURUSD, 109 pips from the low of the week at 1.13245.

What is the midweek reversal?

The midweek reversal is the turn in the weekly cycle. The first days of the week trend one way (the induction), the high or low of the week prints on Tuesday or Wednesday (the trap), and price reverses through Wednesday, Thursday and Friday.

How is the confluence score worked out?

Each daily setup gets one point for each of eight confirmations: a clear Asian range, a second-leg stop hunt, the hunt at a session open, taking the previous day's high or low, high-impact news in sync, forming on Tuesday or Wednesday, being the high or low of the week, and price being induced into it from the week's open.

Related chart markups

• Previous week: Gold M formation, week of 15 June 2026
• Next week: USDCHF M formation, week of 29 June 2026
• GBPUSD midweek reversal, week of 6 July 2026: another W formation, on GBPUSD
• EURUSD W formation, week of 18 May 2026: the same W formation on EURUSD
• USDCAD midweek reversal, week of 17 August 2026: another W formation, on USDCAD
• All forex chart markups, week by week
• How to Read a Forex Chart Markup: what every mark on these charts means

Learn to read the chart this way. The Forexia Academy courses cover the Asian range, M and W formations and the weekly cycle step by step. Browse the courses.

These chart markups are made after the fact, for study. They are not signals and not trade advice. Candles: Dukascopy. Economic calendar: FXStreet. All times are New York. Stop-loss positions are the method's reading of the structure, not order-book data.