Pin Bar on AUD/USD

Pin Bar on AUD/USD

In the near future, a technical correction is possible on the AUD/USD currency pair. Near the key offer zone of 0.80600-0.81250, a classic reversal pattern of the Price Action "Pin Bar" (D1 timeframe) was formed. The nearest support is the round level of 0.80000. We recommend you to pay attention to this situation.

If the price fixes below 0.80000, it is necessary to consider sales of AUD/USD. The closest target for fixing profit is the level of 0.79400. In the medium term, the currency may reach the support level of 0.78500. Confirmations and entry points to the market should be looked for on the lower timeframes. We recommend reducing risks. This transaction is counter-trend.

by JustForex, 2017.09.13

We recommend you to have a look at the actual figures of technical analysis.

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.