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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
What Forex pairs to trade?
Forex is a market, where the currencies are traded. Currencies are traded in pairs, so a Forex pair is a ratio of one currency's value to another.
Read more
Real Estate economic indicators.
There are several important real estate market metrics today. If we are talking about the United States, these are Building permits, Housing Starts, New Home Sales, Existing Home Sales, and Pending Home Sales. These economic metrics are often not highlighted in economic calendars, but they are the most important parameters reflecting the state of the real estate market in the country.
Read more
OPEC+ meeting
The Organization of Petroleum Exporting Countries (OPEC) is an international organization composed of oil exporting countries whose main purpose is to control production quotas for raw materials to ensure price stabilization in international oil markets.
Read more