Pin Bar on EUR/USD

Pin Bar on EUR/USD

The EUR/USD currency pair has become stable after a prolonged rally. At the moment, the trading instrument is consolidating. The current technical pattern signals a possible correction. A classic reversal pattern of the Price Action, Pin Bar, (H1 timeframe), has been formed near the round level of 1.1900. Local support is 1.1835 mark. We recommend paying attention to this situation.

If the price fixes below 1.1835, EUR/USD sales should be considered. The nearest goal for profit-taking is 1.1780. The movement is tending to 1.1720-1.1695. Confirmations and market entry points should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.

by JustMarkets 2020.08.06

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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