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NIAL FULLER
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Forex Trade Setups Commentary: NZDUSD counter-trend pin bar 7-29-10

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By in Forex Trading Commentary & Trade Signals by Nial Fuller Last updated on | No Comments

Forex Trade Setups Commentary:

NZDUSD counter-trend pin bar

The NZDUSD formed a bearish counter-trend pin bar on 7/27 that has come off to the downside. This may just be a correction in the overall daily uptrend.

Typically counter-trend setups are lower probability, however the pin bar in today’s discussion did form near a rather strong resistance near 0.7400.

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For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my forex trading course.

Commentary:

The U.S. dollar was mainly lower today against the other major currencies, gaining modestly on the New Zealand dollar while posting modest losses to the other majors.

The Dow lost 31.03 points, or 0.30 percent, the S&P 500 dropped 4.63 points, or 0.42 percent, the Nasdaq lost 12.87 points, or 0.57 percent.

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is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. Viet July 11, 2019 at 12:32 am

    Nial, Im from Vietnam. I cannot describe how much I admire you.
    Never imagine some simple candle patterns have such power on the market.
    I always dream to be a successful trader living my free life with beloved but have never reached it after some years of ups and downs…a lot of pain, loss …
    I want to have a life like you, being happy with beloved wife and daughter and enjoy trading, please help me by posting more about your price action applications, I promise with you and with myself that I will appreciate every piece of experience from your posts.
    Many appreciation, admiration, loves and best wishes from me to you.

    Reply
    • Nial Fuller July 12, 2019 at 1:53 am

      Your comment is very appreciated, it is good to hear from traders in Vietnam.

      Reply

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