FX.co ★ Trading tips for EUR/USD

Inside the pin bar is the buyback that took place during the US session.

This is a sign that dollar demand is weakening, which, in turn, would prompt a rise in EUR/USD, at least to the level of 1.10500, where sell stops are located. This means that it is not ideal to take short positions, while longs should be closed after the breakdown of 1.10500.

These ideas are under the Price Action and Stop Hunting strategies.

Good luck and have a nice day!