Forex Price Action – Euro Pin Bar Off Intraday Support | Nov. 28th
As I wrote in my price action commentary yesterday, the EURUSD formed a bearish engulfing bar, and the first level bulls can look to get long would be the 1.2888 level being a key intraday support level. That is exactly what happened as the pair bounced off this level (going only 9pips below) and bouncing over 70pips forming a bullish pin bar setup in the process, showing the bulls are willing to buy on dips. Bulls will likely challenge the 1.3000 level where some intraday bears may look to short.
Upcoming Economic Announcements:
|CHF Gross Domestic Product (YoY)||01.45EST|
|EUR German Unemployment Change||03.55EST|
|GBP Net Lending Sec. on Dwellings||04.30EST|
|EUR Euro-Zone Business Climate Indicator||05.00EST|
|USD Gross Domestic Product (Annualized)||08.30EST|
|CAD Current Account (BoP) (Canadian dollar)||08.30EST|
|USD Pending Home Sales (YoY)||10.00EST|
Make sure to check out my newest article on Ichimoku Price Theory.
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