News Column

Forex Strategy: AUD/USD Dark Cloud Covering Warning of Declines

February 18, 2014

David de Ferranti



Talking Points



  • AUD/USD Technical Strategy: Dark Cloud Cover hinting at declines
  • Sellers once again emerged just shy of the 0.9085 level
  • Immediate target for a decline is nearby support at 0.8920



    The Aussie has once again encountered selling pressure at the 0.9065 level that continues to restrain gains for the unit. A Dark Cloud Cover candlestick pattern may be providing an ominous signal that a more meaningful decline is about to play out. Traders will likely be eyeing the 0.8920 level as a potential point of support for the AUD/USD.







    Forex_Strategy_AUDUSD_Short_Pending_On_Evening_Star_Confirmation_body_Picture_1.png, Forex Strategy: AUD/USD Dark Cloud Covering Warning of Declines






















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    Source: DailyFx


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