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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD trading recommendations for 10th June, 2016

analytics575a0b497dc2b.png

AUD/USD reversed right below our stop loss of 0.7500 since our analysis on 8th June, 2016. This forms the head-and-shoulders reversal which is a very strong reversal pattern. Price has just crossed the neckline confirming the move and this lines up well with RSI crossing below its ascending support line. We expect to see a big correction here all the way down to 0.7365.

Trading recommendation:

Sell now

Take profit at 0.7365

Stop loss at 0.7470

The material has been provided by InstaForex Company - www.instaforex.com