With two Pin bars the price could not reach new highs. With the start of a week the price moved higher than last week’s ended, but it has short lasted.
On a third day the price returned back down to a confluence of support and formed another bullish Pin bar.
On Thursday the price broke below through strong support and reached an area around $1.20800.
From there the price returned close to $1.21800, but closed below the resistance line.
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EURUSD Chart Forecast
The price is below strong resistance that has held the price above for two weeks which means it will need more buyers strength to move again above $1.21800.
The area between $1.20800 and $1.21800 is strong because in the past price had a hard time breaking above $1.21800.
Range area is now holding the price so I am expecting we will see the price inside for a while.
Below $1.20800 first support is around $1.20350 and then $1.20000.
Above we have first resistance at $1.21800 and then around $1.22800.
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