Hello Traders, what’s going on market after US closing?
After past couple days of falls, now we can spot demand reaction. Last low area stopped the price, and even if it’s downtrend we might go long because previous corrections had allowed to earn some pips. If todays daily candle stays in almost pinbar shape, with some room for gains, it will be ideal situation for speculative buy.
There was much stronger reaction on GBP/CHF than on GBP/USD. We can spot bullish engulfing pattern right above local support zone at previous highs. Also, we can say it is 100% pattern, which makes this signal even stronger. So, tommorow we’ll se if trend is going to continue.