Tuesday, March 5, 2013

EURAUD: Pin Bar at Resistance 05/03/2013

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A Pin Bar at the close of today's trading on this pair signals a bullish rejection. This setup becomes even more significant because of the confluence of events (A horizontal resistance as well as a dynamic resistance) Expectations are for the bears to key into this setup and send prices lower. Key support is found at 1.2507.

My Recommendation: Sell at about 1.2830 

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