EURUSD – Pin Bar Off Intra-day Resistance (4hr chart)
Early in London trading the Euro pinged off the 1.2560 intra-day resistance level, and has since sold off aggressively, losing over +120 pips in the process. The pair formed a pin bar rejection off that key level with the pair now printing an inside bar into the New York Forex Close.
For now, we still have a range-bound environment between 1.2560 and 1.2366 ST. Buyers may consider entering long on a weak pullback into the support, while bears will want a corrective pullback heading into today’s highs.
Only a clearing of 1.2360 resumes the bear trend. Bulls have some stiff resistance between 1.2560 and 1.2620.
Also in today’s member trade setups …... Keep reading