News Column

Forex Strategy: AUD/USD Short Pending On Evening Star Confirmation

May 23, 2014

David de Ferranti

Talking Points



  • AUD/USD Technical Strategy: Sidelines Preferred
  • 0.9210 continues to act as support
  • Harami on the four hour chart hints at a bounce



    The Australian Dollar bulls remain prepared to support the currency at the 0.9210 mark for now. However, with a key reversal candlestick pattern absent on the daily a recovery may be limited. This comes following the Hammer formation failing to receive confirmation from a successive up-day. Sellers are likely sitting at the psychologically-significant 0.9300 handle.





    AUD/USD: Support Holds At 0.9210

    Forex Strategy: AUD/USD Short Pending On Evening Star Confirmation





    A Harami pattern on the four hour chart is hinting at a bounce in intraday trade. However, again a recovery may be capped by selling pressure at the 0.9300 mark.





    AUD/USD: Harami Pattern Hints At A Bounce In Intraday Trade

    Forex Strategy: AUD/USD Short Pending On Evening Star Confirmation













    Follow David on Twitter: @Davidde





    Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.










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    Source: DailyFx


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