-
AUDUSD Carves Out Bearish Engulfing Pattern at Range Top
AUDUSD has carved out yet another bearish pattern near channel resistance that extends from the April 2013 high. The first occurred on September 8th and triggered an impressive 200 pip selloff over the next three sessions. While yesterday’s session didn’t form the same pin bar style candle, it did completely engulf Wednesday’s range. On top of that, the pair closed the day back below the 0.7650 handle, an area that has been on our radar for weeks. Over the weekend I mentioned that my bias remains weighted to the downside, and with yesterday’s close that bias has only strengthened. So far in fact that I ... (full story)