Outside Bar on AUD/USD

Outside Bar on AUD/USD

In the near future on the AUD/USD currency pair, the bearish sentiment may prevail. Near the key offer zone of 0.79000-0.79200, a classic pattern of the Price Action "Outside Bar" emerged, which signals a downward trend. We recommend you to pay attention to this situation.

If the price fixes below the local support of 0.78600, it is necessary to consider sales of AUD/USD. The closest target for profit taking is the 0.78250 mark. In the medium term, the AUD/USD currency pair may reach a "mirror" support level of 0.77500. When tracking the position, we recommend using a trailing stop.

by JMarkets, 2017.08.14

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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