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 JustForex, 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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Full Guide to Forex Trading in Nigeria
In Nigeria, Forex trading is skyrocketing because many people move to this market. It enables the Nigerian economy to develop. Therefore, many people ask whether it's easy to trade in Nigeria or not. So, let's consider all the particularities of Forex trading in Nigeria.
Read more
The Best Time to Trade USD/CAD
The US dollar and Canadian dollar form one of the most popular currency pairs. It represents a significant quota of daily trade. It's popular among both professionals and ultimate newbies.
Read more
Full Guide to Forex Trading in South Africa
Forex trading is a popular form of short-time investment and a source of additional or main income for many people all over the world. Forex trading is available in South Africa, but many potential traders just do not know how to make the first steps in this field. This full beginner’s guide explains the base of Forex and its key terms.
Read more