Hello Traders, what’s going on market after US closing?


Right below clear key resistance zone, we’ve got candle with a longer upper shadow… once again. We might have a chance to see a classic pinbar on a daily chart, which would be a clear selling signal. However, going short on AUD/NZD might not be a good idea right now. Of course, we are still in a bearish trend, but last couple of days were a period of consolidation, with price mumbling around 1,0630. This might be hard to play.

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Situation on this pair is much more clear. If todays candle stays in shape of classic pinbar, we will have almost perfect buy signal. Price reaction right above local support zone, satisfactory momentum and medium trend still bullish are reasons to consider buying EUR/AUD.

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