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Daily Pin Bar Reversal Sell Signal On AUDNZD Wednesday 5th February 2014

The AUDNZD tried to push above near-term resistance at 1.0900 yesterday but reversed gains into the close, forming a bearish pin bar in the process. In upcoming Days, we could see price rotate lower from yesterday pin bar if the late-day bearish pressure we saw today continues and we can enter at 50% retracement of pin bar or breakout of pin bar nose if any reversal sign found on interday chart. However, if the market drifts higher and breaks up past the high of yesterday pin bar, then this pin bar setup will be invalid.




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