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Forex Price Action – EURUSD Pin Bar At Resistance | Nov. 14th
As discussed in yesterday’s market commentary, the engulfing bar + pin bar combo did produce higher prices for the Euro, and went to the first resistance level I mentioned yesterday (around the 1.2763 area). However, the pair got rejected and formed a large pin bar at resistance and a role reversal level. Now the lines are drawn short term, as the bulls will have to clear 1.2772, while the bears have support at 1.2659, so those are your levels for either side of the market to get long or short, and watch for price action signals there.
Upcoming Economic Announcements:
|EUR French Gross Domestic Product (YoY)||01.30EST|
|EUR German Gross Domestic Product n.s.a. (YoY)||02.00EST|
|EUR Italian Gross Domestic Product s.a. and w.d.a. (YoY)||04.00EST|
|GBP Retail Sales (YoY)||04.30EST|
|EUR Euro-Zone Gross Domestic Product s.a. (YoY)||05.00EST|
|USD Consumer Price Index (YoY)||08.30EST|
|CAD Existing Home Sales (MoM)||09.00EST|
|USD Philadelphia Fed.||10.00EST|
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