EUR/USD Prints Pin Bar at Resistance

in forex •  8 days ago 


Direct from the desk of Dane Williams,
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EUR/USD Technical Analysis

Afternoon team,

We had EUR/USD holding wedge support, but with markets feeling optimistic around recession and trade war risks, we have since said goodbye to support.

Take a look at the higher time frame, EUR/USD daily chart below.

EUR/USD Daily:

The wedge is pretty clear, with price having broken below the confluence of both horizontal and trend line support levels.

Price then retested previously broken support as resistance and printed a pin bar. A textbook continuation pattern if ever there was one.

It took a couple of days, but it now looks like price is headed lower.

We now look for new lows to be printed.

Best of probabilities to you,


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