EURUSD – Euro/dollar pin bar reversal signal
The EURUSD pushed higher early in today’s session but pared all gains into the New York close and formed a bearish pin bar reversalsetup in the process. We could see this market rotate down from today’s pin bar into support before the uptrend resumes again. Key near-term support is seen down near 1.3125, but if this market starts falling aggressively we could see it make a deeper move to the downside. Keep in mind that even though today’s pin bar is a solid looking sell signal it’s still counter trend, so be aware that counter-trend trading is inherently riskier and should only be tried by experienced traders. If this market does move lower and into the support zone marked on the chart below we could watch for price action buy signals to rejoin the uptrend.
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