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 JustForex 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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
10 most stable forex pairs to trade in 2021
If you are interested in forex but have never tried trading before, sooner or later, you come across the question of what currency pair is safe to trade so that you don’t lose half of your deposit on your first position. And the answer is as simple as can be, the safest currency pairs are the most stable ones. Read on to learn which currency pairs are the best to start your trading journey.
Read more
Best Gold Trading Tips For Beginners
Gold is one of the most popular assets traded worldwide by investors, funds, and speculators who aim to profit from the price fluctuations or stand up against inflation. Unfortunately, many market participants fail to catch the wave and take full advantage of what the gold market can offer due to the lack of knowledge and experience. Are you planning to become the next gold trader? Learn how to trade gold in the most profitable way.
Read more
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more