EURUSD Price Action – Pin Bar Off Resistance | Nov 17
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 commentary, we cover the GBPUSD, NZDUSD, EURJPY, WTI Oil & the Nikkei. Click here to become a member.
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