EURUSD – Forms Long Tailed Pin Bar + False Break
As we mentioned in the members commentary yesterday, there was a good chance the ECB meeting and Draghi speak would spark a tremendous amount of volatility. Lo and behold, we have indices jumping, gold bumping, and the USD on the end of a thumping.
While the Euro initially moved lower, the pair bounced heavy forming a long tailed pin bar + false break. This pin bar is actually also doubling as an engulfing bar as well, but the effect is the same with the close above the consolidation’s low, on the highs and the long tailed bar rejection.
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