Euro Pin Bar Off Role Reversal Level | July 2nd

EURUSD – Sells Off From Intraday Pin Bar
As the Euro downtrend continues, the EURUSD formed a 4hr intraday pin bar off a key role reversal level in 1.3072 and sold off for the next 16hrs losing over 100 pips.  The trend is still bearish, but liquidity is pulling out of the market, so moves may be more measured ahead of the July 4th US holiday. I’ll consider shorts on pullbacks towards 1.3060 targeting 1.2850 and 1.2775 which is the major support level for the year. Look to trim positions ahead of the holiday if you are in profit.

4hr intraday pin bar off key role reversal level price action

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  • Stian S

    Hi Chris!
    that’s a really nice trade. to bad i didn’t get in at that point myself. I shorted when we closed yesterdays daily chandle and got a bearish engulfing. I can see that we have now got a channel downwards in H4.

    Best regards
    Stian S