Sunday, May 26, 2013

EURUSD Price Action: Pin Bar Price Action Trade Setup. Against Market Open May 26, 2013

The EURO again faced bearish pressure as it hit the 1.3000 Key Resistance Zone. A Pin Bar ensures as a result and expectations are for price to sell into Support at about 1.2840, while a break of that resistance would completely alter the bias on the pair from bearish to bullish. 

My Recommendation: Sell the pair at about 1.2950 with stops above 1.3000.

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