Triple Top on AUD/USD

Triple Top on AUD/USD

The current technical pattern on the AUD/USD currency pair signals a correction movement after a significant rally. A classic reversal pattern, Triple Top (H1 timeframe), has been formed in the trading instrument. At the moment, AUD/USD quotes are in the range of 0.6315-0.6360. We recommend paying attention to this situation.

If the price fixes below 0.6315, it is necessary to look for entry points to the market to open short positions. The nearest goal for profit-taking is the level of 0.6245. The movement is tending to 0.6210-0.6150. When following positions, we recommend using a trailing stop.

by JustForex 2020.04.13

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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