Dear prop traders, futures and spot traders,

  • It was a relatively quiet day on the markets on Wednesday, but still our USD/JPY trading signal managed quite well…
  • There are a few pieces of news today, but I want to bring your attention to the daily price action of one particular currency pair- NZD/USD. We can see that the major resistance level at 1.8050 was almost touched and there is a really interesting formation on the Daily chart. First of all, there is a pinbar that formed on Tuesday and a small red candle from Wednesday. They both almost engulf the previous green candle and give more optimism for the bears. I believe that this will ignite more selling today and a continuation of the bearish trend. All stops should be put above 1.8030.

Happy Trading,

Colibri Trader