The EURUSD had another indecisive movement last week. While price remains in a consolidation phase from a daily/weekly chart perspective, H4 chart still suggests a Bearish Phase following the appearance of a bearish Pin Bar at 1.2395 resistance area as you can see on my H4 chart below. The bias is bearish in nearest term. However, we also have a Bullish Pin Bar printed on Friday so we need a clear break below 1.2249 (the “tail” of the bullish pin bar) to continue the bearish phase testing 1.2215 – 1.2175 key support which remains a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate my major bullish bias. Immediate resistance is seen around 1.2300. A clear break above that area could lead price to neutral zone in nearest term testing 1.2350 or higher.
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