Yesterday was quite calm day because of work-free day in the US, but today it may be more interesting. All the time shadow of strong decreases and serious crisis is among us. Currently the question is whether last gains are just a correction or brand new phase. We’ll see.
Buy signal in shape of Outside Bar stopped working. Price gained 200 pips and now we have to cancel pending order. We needed bearish correction to realize it.
Eurodollar is decreasing in direction of support and it can be an opportunity to join new bullish trend. We can expect further bullish moves.
YOU CAN START USING PRICE ACTION AND INVEST ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
This pair fell to key support. If there will be any clear Price Action buy signal on D1 chart, we can consider longs. If support will be break it will mean possibility of further decreases and then we can look only for shorts.
If you are interested in Price Action Strategy description, you can read it here.
Sell signal in shape of Pin Bar on H4 was negated and pair broke resistance. So far it is too small break to talk about change of sentiment. All time it can be a false move and there can show up sell signal – however it would be the best if it will be on daily chart.
Correction on Kiwi. After testing resistance, pair is decreasing in direction of support. Since January trend is bullish so we can look for buy signals.