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AUDUSD: Positioning Hints Bearish Reversal Imminent

AUDUSD: Positioning Hints Bearish Reversal Imminent

2010-03-19 01:46:00
Ilya Spivak, Sr. Currency Strategist
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AUD/USD

Strategy: Pending Short

AUDUSD positioning hints of a forthcoming bearish reversal with prices showing a Harami candlestick pattern below resistance at the upper boundary of a Rising Wedge chart formation. We will wait for confirmation on a bearish close for the current candle and begin look for selling opportunities.

031810 AUD


To discuss these strategies with other traders, please visit the Candlestick Forum

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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