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Pin Bar on EUR/USD

Pin Bar on EUR/USD

On the EUR/USD currency pair, bullish sentiments have been prevailing for quite some time. Over the past month, the quotations growth exceeded 4%. Nevertheless, in the near future, we do not exclude a technical correction. At the moment, near the round level of 1.19000, a classic reversal pattern, Pin Bar, (H4 timeframe) was formed. We recommend you to pay attention to this situation.

If the price fixes below the local support of 1.18250, it is necessary to consider sales of EUR/USD. The immediate goal for profit taking is the "mirror" support of 1.17500. In the medium term, the currency may reach the level of 1.16750. Confirmations and entry points to the market should be looked on lower timeframes.

by JustMarkets, 2017.08.03

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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