Hello Traders, waht’s going on market after US closing?
After some corective moves, we finally can see an appropriate demand reaction on GBP/USD. Local support zone and white bullish candle brings us some optimistic view on this currency pair. At this point we still have an inside bar pattern, in which sell/buy signal appears after price will break the low/high of yesterdays candle.
There is a huge bullish pinbar on chart today. Occured right above local support zone which makes this signal even more optymistic. Nevertheless the range of probable gains isn’t very big. We’re still in a bearish trend so all we can do is keeping finger crossed for EUR/JPY to reach the previous high or the well respected trendline.
Similar situation as on EUR/JPY – we might get a pinbar here, but if you look close enough you might see, that demand isn’t very strong here. Anyway – we’re above local support zone, and if todays candle looks similar to the candle from 20th of January we might consider opening a long position on GBP/JPY.
Couple corrective days, after strong attack of the bulls on NZD/USD brings the pair to the local support zone again. We can easily spot a strong bullish reaction on the pair, and with still bullish momentum on NZD/USD we might consider long positions.