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USDCHF Buyers Challenge Friday’s Bearish Pin Bar
USDCHF bears are having trouble following through on Friday’s pin bar from 0.9940 resistance. The area has served as a pivot since late October and had its way with the pair during the final 24 hours of last week. I mentioned the bearish pin bar over the weekend. And although it’s well-formed, I did point out how it developed on a Friday when volume tends to be lighter than usual. That means it may not be as reliable as other pin bars that form during the week. Think of buy and sell orders as votes by market participants. The fewer votes there are, the more likely a pattern is to fail. This is why the price ... (full story)