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AUD/USD Swings Continues As Intraday Candlesticks Signal Turning Points

AUD/USD Swings Continues As Intraday Candlesticks Signal Turning Points

2014-10-17 05:35:00
David de Ferranti, Currency Analyst
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Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Limited Follow-Through For Candlesticks On The Daily
  • Dark Cloud Cover On H4 Awaits Confirmation

AUD/USD’s wild intraday swings continue to leave a plethora of candlestick patterns in its path. Yet the reversal signals on the daily continue find limited follow-through. A daily close outside the recent 0.8660 to 0.8900 range would be required to suggest a clearer directional bias.

AUD/USD: Awaiting Break From Range As Wild Swings Continue

AUD/USD Swings Continues As Intraday Candlesticks Signal Turning Points

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Candlestick patterns have helped signal intraday turning points within AUD/USD’s recent range. The latest Dark Cloud Cover formation offers an ominous warning, yet awaits confirmation to suggest a retreat over the session ahead. Buying interest is likely to be renewed at the critical 0.8660 barrier.

AUD/USD: Dark Cloud Cover Offers Ominous Warning

AUD/USD Swings Continues As Intraday Candlesticks Signal Turning Points

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

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