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

EUR/JPY

It is second day in a row, when we observe candles with long lower shadows on EUR/JPY. Both of them are right above local support zone, and both of them are clearly signaling that bears doesn’t have enough power to move the pair lower. Playing long from here is pretty risky, while wider trend is still bearish. Also potential gain isn’t very impressive, so maybe it will be better idea to wait fo a clear sell signal.

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NZD/USD

Much more interesting situation showed up on NZD/USD chart. If todays candle stays in its current shape, we will get a nice pinbar in the right place. This would be an evident buy signal in bullish trend.

GBP/AUD

We have pinbar right under resistance zone. Both of currencies – GBP and AUD, are almost exactly same weak, but technicals point at selling GBP/AUD. With pinbar, short-term trend line and resistance zone it is pretty clear signal.