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dhoover
Apr 11, 2014 2:25 PM

Potential Reversal Setup 

Australian Dollar/Canadian DollarFXCM

Description

Double top formed at 1.0315, hanging man is found on every timeframe, though still in progress on daily charts. Stochastics overbought on most timeframes, and reaching those levels on daily. A bearish candle would confirm a reversal, and a break below the trendline spells a long fall for the Aussie

A break above the resistance line would confirm a continuation of the current trend
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