Euro Pullback To Dynamic Resistance Leads to Selloff | July 4th

EURUSD – 4hr 20ema Continues to Hold
After forming a pin bar signal off a role reversal level, we suspected and suggested another pullback for the pair before more selling. This is exactly what happened as the pair pulled back to 20ema, forming another pin bar off of it before selling heavily post ECB rate announcement today.

Tomorrow is NFP day which should be quite interesting considering the already unusually low levels of liquidity. Could be a perfect storm to cause a very drastic move in the markets. Traders now can look for sell signals around 1.2975 targeting 1.2850 and 1.2775 to trade in line with the bearish trend.

pin bar signal dynamic resistance 20ema price action euro

For those wanting to join the traders forum, lifetime membership & more, visit my Price Action Course page here.

Also make sure to check out my latest article 2 Tips for Summer Forex Trading

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article