The EUR/USD produced a bullish pin bar from key support on Thursday last week and dipped back to around the 50% retracement level in Friday's trading session. There has been a lot of selling in this market over the last week or so it is advisable to be cautious here. This setup is still very well defined and at a strong support level so has a good chance of success. If traders are able to monitor intra-day price movements it would be good to look for bullish confirmation on the 4-hour / 1-hour timeframe to give extra 'weight' to this setup.
This price action trading commentary is published by Lewis Barber and represents his current view of the forex market.