FX:AUDUSD   Australian Dollar / U.S. Dollar
This bearish pattern (64% of the time according to encyclopedia of chart patterns) is still intact. Price action nicely bounce off that upper descending trendline. Normally I wouldn't short here but wait for a breakout at 1.01640. Impatient that I am I did short anyway but with a tight stop above Wednesday wick. To me that candlestick is a nice inverted hammer or I have seen people calling that one a shooting star (Forex only).

China's economic announcements late tonight and this weekend should gives us a good indication.

Gaven Sirois


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