EURUSD formed a daily pinbar in confluence area

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EURUSD formed a daily pinbar in confluence area

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12-22-2011, 08:36 AM

basil1974

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EURUSD formed a daily pinbar in confluence area

EURUSD

The EURUSD formed a bearish pin bar in the dynamic 8 / 21 EMA resistance layer today. This pin bar is also showing rejection of the horizontal level through 1.3200, and it’s with the downtrend, so it’s a confluent setup. Support comes in near 1.2950 – 1.2900, and we could see a larger move lower if this level breaks.

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