DAILY FOREX TRADING OUTLOOK FOR 25-28/02/2019

Spread the love

NZD/USD retraced aggressively on Friday and formed a large bullish pinbar from 0.67260 -0.67565 support zone which also double as event areas.The zone stand as confluence point. These give the setup higher probability of work out in short term.The next resistance zone is 0.69692

GBP/USD retraced and formed a Pinbar at the 50% levels of the previous breakout from the failed bearish pinbar. The bullish pinbar formed has higher probability of working out albeit the place been formed. The next resistance level is around 1.32082.

EUR/AUD pullback to the consolidation boundary on Friday.There was a large bullish reversal on Thursday which later met with bearish pressure. The momentum of this pair is obviously in ranging conditions.Our bias is bearish as long as we don’t have a close/ breakout with 1.59537 zone/boundary. The next support level zone is 1.57227.

AUD/USD formed an inside bar on Friday, thereby given a clue of a possible fakey setup in due course.Our Bias is going to be solidify by price action reactions at support zone , 0.70890-0.70412.

Leave a comment

Minimum 4 characters