Price Action – Euro Forms Huge Engulfing Bar off Resistance | Nov. 29th

The Euro has been good to us this week as yesterday I wrote in my price action commentary price will likely rally and find bears looking to sell the pair at 1.3000.  This is exactly what happened as the pair went just a few pips past the big figure, then sold off 60+pips in less than a few hours from a huge bearish engulfing bar.  Sequentially, the pair is forming HL’s (higher lows), suggesting it wants to make a break to the upside.  The bulls should test the level one more time this week, and a failure again will likely send the pair lower, back towards short term support at 1.2881 so plays on both sides here.

eurusd bearing engulfing bar price action trading nov 29th

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Ioannis

    When was this bearish engulfing bar?I can’t find it in my marketscope 2.0(FXCM) platform.(4 hour) time frame!

    • Hello Loannis,

      Depending upon your server time, your charts may look different which probably explains why you cannot find it.

      Hope this helps.

      Kind Regards,