NZDUSD – Pin Bar Fails, Critical Resistance Up Next | Mar 6th

​NZDUSD – Pin Bar Failed, Critical Resistance Ahead
​The latest pin bar at resistance failed, showing a weak rejection and follow through, suggesting it wasn’t going to work out. The kiwi cleared the next pin bar and range high with ease, suggesting the pair was gunning for the October highs at 8542. Unless we have some massive bullish action ahead of the critical resistance, I’m suspecting bulls will cover ahead of the level and NFP tomorrow. 

​I’ll look for intra-day weakness in early London tomorrow for potential shorts near the highs, targeting 8435/40ish. If the Oct. highs fold, then the May 13′ swing highs at 8575 are on deck.

NU daily market commentary mar 6

Take a look at our latest article called The Trading Mindset: Frustration Leading to Growth

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article