Hello Traders, what’s going on market after US closing?
The pinbar has appeared on NZD/USD chart last Friday. Perhaps, some of You resigned to buy the pair after this signal, although pinbar was on a key support zone. It was absolutely OK to do so, because trend was really bearish at that time. But after couple of days we can easily spot a corrective move on NZD/USD. If todays candle forms a pinbar it will be signal, that gains might stay with us a bit longer. Probable range is 0,66 level.
After creating a new low, today CAD/CHF gives us a chance to join this bearish trend. Actual small correction is probable going to end with a pinbar which is pretty similar situation like we’ve seen couple days ago. With local resistance zone above it is a clear sell signal.