Thursday, May 2, 2013

EURUSD Price Action: Pin Bar Price Action Setup explodes lower. May 2, 2013

 1.3200 zone has shown to be a strong rock holding down the euro. I did point that traders should keep an eye on price action around this zone. A pin Bar, formed at the close of trading yesterday has lead to a massive selloff of the pair. It could be argued that the ECB president was responsible for this move with his very Dovish Press Conference but Price Action had prepared us for this with that Pin bar.

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