Continuing from my previous post, Aussie did put in a 4 hour pin bar during the close of the NY session. However, I didn't take the trade on this one.
Some nice retail data out of New Zealand and better than expected consumer confidence figures gave it a nice boost back into the 1.075 area. Aussie maintained its gains, so I looked elsewhere for opportunities.
Trade of the day for me was the EUR/USD. I took a short position on a fakey, pin setup on the 1 hour chart. Continued poor headlines out of Greece helped the trade to my target, netting a nice 70 pip profit.
I have now also short the AUD/USD based on a 4 hour candle close below 1.075. Fundamentals looked well aligned with the short term downward trend looking set to continue, driven by the overall risk negative outlook. Plus some event risk coming up on the docket later in the day with the Aussie unemployment rate expected to increase to 5.3%. Hoping this will keep a lid on big bullish moves into the close of the NY session.
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