EUR/USD: you don’t mess with pin bars

EUR/USD: you don’t mess with pin bars

Recommendation:

SELL 1.2360

SL 1.2415

TP1 1.2305 TP2 1.2200

On the daily chart, EUR/USD is forming “Spike and reversal with acceleration” pattern. To change the trend to the downward the euro should return to 1.19. That is unlikely. On the other hand, a pin bar near the lower border of the current uptrend increases the risks of a pullback.

EUR1.png 

On H1, EUR/USD formed a reversal “Widening wedge”. Aggressive selling will become a priority if the euro returns to 23.6% of the wave 4-5. Conservative selling may start when the euro reaches point 5.

EUR2.png

eur

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