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There is a bearish pin bar on the daily chart

There is a bearish pin bar on the daily chart | 16 September 2020

16 September 2020, EUR/USD

EURUSD within a range

Wave Analysis

On the 4 hours chart attached, EURUSD bounced off from the upper trendline, went straight to the lowerside and is still showing signs of a possible rally even lower. If you are looking at this chart, expect a possible from the upper trendline to pick a low risk sell position towards the inner lower trendline. A break below the current converging shape formation may push the price much lower lower towards the lower trendline. A break below this trendline will push the price actively to the lowerside towards 1.16695.

Trade Recommendations:

Expect further bearish price rally towards 1.17920.

Bob Stan
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