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EURUSD Rotates Lower From Pin Bar

The EURUSD fell lower today after consolidating just below key 1.2950 - 1.3000 resistance over the previous three days following the large bearish pin bar reversal setup that formed last Wednesday. We can see the market actually formed a second pin bar reversal showing rejection of 1.2950 - 1.3000 resistance last Friday, showing more hesitation in this market to break up above 1.3000. From here, we could see the market move down and test near-term support at 1.2800, it will need to break beyond that support to have a chance at testing key support down near 1.2750.

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