Wednesday, June 26, 2013

AUDUSD Price Action: Counter Trend Fakey Setup: June 26, 2013

The Aussie seem to have hit a significant support and as a result aims to take a breather from the very dominant bearish trend. The Fakey Setup on the daily time-frame at-least signals for sellers to step out and wait for another entry, possibly as the market rotates back into resistance. Though this is a counter trend setup, it looks good enough to interest buyers.

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