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FX Price Action – Euro False Break + Pin Bar Signal | May 1st
On a decent run over the last 4 days, the Euro has gained a little over 200 pips during these days, but today formed a false break and pin bar signal. The false break is from the prior 2-bar swing high on the 16th/17th which was at 1.3199, with today’s high peaking at 1.3242, but closing at 1.3178.
This formed the pin bar signal today, so sell signals between 1.3200 and 1.3242 are a decent play for bears. A break above this puts 1.3300 in focus. However more bearish selling from here will put 1.3100 up first, then 1.3000, so some decent downside as well.
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