Pin Bar on EUR/USD

Pin Bar on EUR/USD

Last week, the EUR/USD currency pair held the key support level of 1.10500, which caused the correction movement. The technical pattern signals a further recovery of the euro after a continuous fall. On the daily chart, a classic reversal pattern of the Price Action, Pin Bar, has been formed. At the moment, the EUR/USD quotes are testing the resistance level of 1.11600. We recommend paying attention to this situation.

If the price fixes above the 1.11600 mark, it is necessary to buy EUR/USD. The closest target for profit taking is the round level of 1.12000. In the medium term, the trading instrument may reach the level of 1.12500-1.12750. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.08.05

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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