EURUSD Price Action – Higher Low + Pin Bar | Jan 12
EURUSD – Higher Low + Pin Bar = Building Base (4hr chart)
Although still in a bear trend, the Euro has formed a higher low + pin bar, suggesting its attempting to build a legitimate base and rally. Short term the USD is looking at tad overstretched and may need some solid profit taking and squaring of the books before sellers re-emerge.
For now I’m bearish medium term while neutral short term as we have more of a two way market. 1.1875 is key resistance short term for bears which they’ll need to hold to bring in fresh shorts. Taking this out means 1.1950 is on deck and bulls are taking more control of the order flow short term.
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