On the weekly chart of EUR/USD, a bearish pin bar has formed. The pattern emerged from a cluster of resistances around 1.2080. If this pattern is activated on a breakout below 1.1810, it will be possible to anticipate further price decline towards the support around 1.1650. Buying opportunities could be considered near the 1.1820 level, where strong support is present. A strong bounce upwards may occur from this support, allowing for intraday buying attempts. As long as this bearish pin bar remains unactivated, my preference is towards buying the pair. However, if the pattern is triggered, only selling opportunities will be of interest.
