DAILY TRADE ANALYSIS FOR 17th of Feb 2022

EUR/JPY

The pair formed a reversals pinbar at 131.411 support zones after there was early strong bearish momentum last week that was caused by formation of a tailed bar at 133.077 resistance zones.

Trading Focus – We are anticipating a near term bearish momentum to 129.550/128.369 zones

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NZD/USD

The pair formed a bearish reversals bar at 0.67321 zones, there was a bullish rally after the formation of the pin bar for a few days. We expect a 50% retracement of the pinbar in near term while we target major support at 0.6567 zones.

Trade Focus- 50% reversals of the pin bar with a bearish price action confirmation.

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