Overnight the GBPNZD fired of a Bullish Engulfing Bar (BUEB) on the 4hr chart. This BUEB was formed from an extreme swing low and also long term support level. The only worry for traders taking this setup was the strong downtrend they were trading against. Price has now moved higher and is moving …
Price Action Charts in Focus
NZDJPY Pin Bar
At the close of Thursday New York session the NZDJPY formed a Bearish Pin Bar. This Pin bar was formed from long term resistance, but against the very short term momentum. Price failed to break the Round Number of 63.00 and we will need to see this level taken out for any chance of a move lower …
USDJPY Forms Bearish Engulfing Bar
The USDJPY has formed a Bearish Engulfing Bar (BEEB) on the daily chart. This BEEB is from a swing high and recent resistance. For a move lower to occur the BEEB low would need to be taken out. Support is fairly close and any trader looking to trade this pair would need to keep this in …