{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurcad-bearish-pin-bar-audnzd-shoots-lower-breaking-engulfing-bar-low-15th-nov-13\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurcad-bearish-pin-bar-audnzd-shoots-lower-breaking-engulfing-bar-low-15th-nov-13\/","headline":"EURCAD Bearish Pin Bar & AUDNZD Shoots Lower After Breaking Engulfing Bar Low | 15th Nov 13","name":"EURCAD Bearish Pin Bar & AUDNZD Shoots Lower After Breaking Engulfing Bar Low | 15th Nov 13","description":"EURCAD Bearish Pin Bar The EURCAD has formed a small bearish Pin Bar on the daily price action chart. This pin bar has formed at the recent daily resistance zone that has previously sent price lower. The daily chart below shows that price has previously formed a pin bar at the same resistance that sent […]","datePublished":"2013-11-15","dateModified":"2019-08-05","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2013\/11\/eurcad.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2013\/11\/eurcad.png","height":"583","width":"1113"},"url":"https:\/\/forexschoolonline.com\/eurcad-bearish-pin-bar-audnzd-shoots-lower-breaking-engulfing-bar-low-15th-nov-13\/","about":["Price Action Charts in Focus"],"wordCount":278,"articleBody":"EURCAD Bearish Pin BarThe EURCAD has formed a small bearish Pin Bar on the daily price action chart. This pin bar has formed at the recent daily resistance zone that has previously sent price lower. The daily chart below shows that price has previously formed a pin bar at the same resistance that sent price lower. Whilst this bearish pin bar is at the key resistance level, it is not A+ because it is not large and commanding like the best pin bars are and it would have been a much better setup if it could have closed lower and below all the recent candle highs that could possibly act as support. If price can break the pin bar low and gain a push lower, price is then trading into the Very Big Round Number (VBRN) of 1.4000 and then into the near term support around 1.3965.\u00a0EURCAD Daily Chart AUDNZD Bearish Engulfing BarRecently in this blog we posted about the Bearish Engulfing Bar (BEEB) that had formed on the daily chart of the AUDNZD. You can read about the original post here: AUDNZD Fires Off Bearish Engulfing Bar. Price went onto break the low of the BEEB and has now moved lower and into the near term low support level. Price is in a solid range in this pair and traders should be mindul of where they look to play trades and also how they then manage their range trades. Range trades should be managed more tightly because they will often whipsaw around, where as trend trades are far more likely to move in the same direction for longer periods of time.\u00a0AUDNZD Daily Chart "}