EURUSD: 3 Reasons Why I’m Not Selling

From dailypriceaction.com

The EURUSD sold off from a key resistance area on Friday. We discussed this on Friday and I also pointed it out in Saturday’s Forex forecast video. However, I think traders need to be careful here. A long upper wick like the one that developed on Friday indicates an increase in selling pressure. It’s what we often refer to as a pin bar. In this case, it’s a bearish one. But there are three reasons why I’m not selling the EURUSD here. The first is that the pin bar in question occurred on a Friday when volume tends to be lower, which is especially true in December. Lesser volume means there’s a greater chance ... (full story)