EURUSD Price Action Outlook

Hello Price Action Traders.

EUR/USD

The EUR/USD broke the bullish trendline after the Murphy’s Head and Shoulders pattern and reached the support area at 1.3500 (low of June) on Friday, as expected. Looking at the Price Action of the last week, we can identify a daily Pin Bar that rejected the support. This could be a sign of a re-test of the low of June. However, only a move above the Pin’s high could be a clue for a buy.

 

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Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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