Wednesday, May 15, 2013

AUDUSD Price Action: Closing Price Reversal. May 15, 2013.

The Aussie and Kiwi move in very similar ways but with respect to their recent trends, the Aussie has been way more bearish than the Kiwi and like the Kiwi, it also has formed a bullish Closing Price Reversal Price Action Setup. Expectations are for price to move towards the Key horizontal resistance level or the dynamic resistances from where Bearish Price Action Setups will be sort.

My Recommendation: Sit out this scenario.

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