Tuesday, April 23, 2013

NZDUSD Price Action:Pin Bar Price Action Setup, 23/04/2013

Four days ago, the Kiwi failed in its attempt to move higher, this was again quickly followed by yet another failed attempt to rotate higher the next day. Both days closed as pin Bars, an indication that we were to see lower prices. Despite today's close being a Pin Bar, the downside side bias and pressure remains not until the resistance Zone is convincingly cleared as indicated above in the chart.

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