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

EUR/JPY

After this crazy session a long lower shadow appears on a daily chart. Speaking of witch, it might look like a double bottom – not a classic one, but still a familiar shape of chart. The pair is also near the key support zone which should be a barrier for bears on EUR/JPY. This is especially convincing scenario if you take o look on previous price bounces. If the candle stays its pinbar shape, it will be counter trend but interesting signal for opening new position. Getting lower, below todays low and getting through this support zone will be a clear sign that we’re heading South.

USD/CHF

Another chances for creating a pinbar are on USD/CHF. Todays candle touched 1,01 level before turning down. With a key resistance zone above and upper wedge line this might be interesting opportunity to sell the pair. Disadvantage of such position is obvious counter trend trading.