GBPUSD Long-Tailed Pin Bar Buy Signals, 15th April 2014

Trading Setups / Chart in Focus:

Check Out My Latest Trading Video - Live Trade On GBPUSD – 4 Hour Pin Bar Signal

GBPUSD – Sterling / dollar long-tailed pin bar buy signals

The GBPUSD formed a long-tailed bullish 4 hour and daily chart pin bar buy signal today after reversing intraday losses into the New York close. Note the support down near 1.6680, this was an important level that the market has clearly and aggressively rejected today, and this is also in-line with the broader daily / weekly bullish trend. As discussed in the GBPUSD video I posted today, I am looking for a retrace ‘tweaked’ entry down near 1.6700 – 1.6680 area and will look to target the resistance up near 1.6820 area with stop loss well below the pin’s low, down below 1.6640.

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GBPUSD 4 hour chart long-tailed pin bar buy signal and potential retrace ‘trade entry trick‘ down near 1.6700 – 1.6680 area.

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View Fundamental Commentary & Upcoming Economic News

Forex Commentary:

In the currency markets today, the U.S. dollar pared a lot of its gains against the euro following escalating tensions in Ukraine, the euro only lost about 0.08 percent today to the greenback.

The greenback also pared its gains against the British pound today in what was a volatile trading session with the GBPUSD forming a bullish pin bar after reversing intra-day losses.

The Australian dollar, New Zealand dollar and Japanese yen all lost ground to the U.S. dollar today.

Other Markets:

In the U.S. markets today, the U.S. dollar pared gains against the euro following

The Dow added 89.32 points or 0.55%, the S&P 500 gained 12.37 points or 0.68%, and the Nasdaq added 11.47 points or 0.29%.

Upcoming important economic announcements (New York time): 4/15/2014

6:45pm EST: New Zealand – CPI q/q
10:00pm EST: China – GDP q/y
10:00pm EST: China – Industrial Production y/y

4/16/2014

2:15am EST: Japan – BOJ Gov Kuroda Speaks
4:30am EST: Britain – Claimant Count Change
4:30am EST: Britain – Unemployment Rate
8:30am EST: United States – Building Permits
10:00am EST: Canada – BOC Monetary Policy Report
10:00am EST: Canada – BOC Rate Statement
10:00am EST: Canada – Overnight Rate
11:15am EST: Canada – BOC Press Conference
12:15pm EST: United States – Fed Chair Yellen Speaks
8:30pm EST: Japan – BOJ Gov Kuroda Speaks

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