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jeremisong

Double Tops, Triple Bottoms (M Shape)

Singkat
Dolar Australia / Dolar A.S. (FX:AUDUSD)  
jeremisong  
FX:AUDUSD   Dolar Australia / Dolar A.S.
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The AUDUSD has been ranging for a while and it is apparently that both resistance and support levels are respected by the market. As of last Friday, the chart has formed a nice "M" shape. With the latest chart bar closed as a bearish engulfing and given Australia Central Bank is expected to reduce its interest rate, the sentiment is bearish.
A sell stop should be place below the low of the bar.
Penafian

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