A bullish pin bar has formed on the EUR/USD daily chart in line with the new upward trend.

Price has recently pushed higher after forming a higher low around the 14th April. The price then pushed up through 1.105 and has now pulled back to this level leaving a bullish pin bar at the close of todays market.

If price should break the high of this pin bar, we could see it push up again for another leg of the rise.

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We can see from the monthly chart below, that this pair looks to have made a reversal as it touched the lower channel.

Well as always, make your own trading decisions, don’t forget to use your stops and the best of luck.