Pin Bar on NZD/USD

Pin Bar on NZD/USD

The NZD/USD currency pair has stabilized near the key resistance of 0.69500. In the near future, a technical correction after significant growth over the past month is not excluded. On the daily chart, a classic reversal pattern of the Price Pin Pin method has been formed. The round level of 0.69000 is the key support. We recommend paying attention to this situation.

If the price fixes below the level of 0.69000, it is necessary to consider selling NZD/USD. The immediate goal for profit taking is the “mirror” support level of 0.68350. The movement is tending to 0.67500-0.66800. Confirmations and entry point to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex, 2018.12.05

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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