AUD/USD Bulls Lose Steam On Fading Momentum
Dailyfx | Nov 14, 2014 04:55AM ET
- Strategy: Flat
- Doji Suggests Bulls Have Lost Momentum
- Evening Star Offered An Early Warning
AUD/USD traders are showing signs of indecision as denoted by a Doji formation on the daily. As noted in recent reports the lingering signs of a near-term downtrend meant a clean run higher was likely to prove difficult. Yet a more definitive bearish reversal signal is left desired to shift the immediate risk lower. A slide back under 0.8660 would return the risks to the recent lows near 0.8540.
AUD/USD: Bulls Lose Steam As A Doji Emerges On The Daily
An Evening Star on the four hour chart offered an early warning sign that the bears were looking to return to the pair. A close below the 0.8660/80 barrier would open the prospect of a run on the 0.8550 floor.
AUD/USD: Evening Star Offered An Early Warning In Intraday Trade
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