AUD/CAD 1 Hour Chart: Channel Up

Source: Dukascopy Bank
© Dukascopy Bank
AUD/CAD has formed a channel up. The pattern has medium quality of 64% and magnitude of 44%. Thus, traders will probably expect weak pattern breakout with a potential target around 40 pips. If the price continues movement within channel lines, traders may use support and resistance levels for hedging their positions.
© Dukascopy Bank
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Thu, 12 Jan 2012 15:42:54 GMT

AUD/SGD 1 Hour Chart: Channel Up

Aussie has appreciated by almost 450 pips against Singapore Dollar since December 15. The price has been fluctuating within a broad channel consisting from 302 bars on H1 chart. The pattern has medium quality and medium magnitude of 64% and 62% respectively. Due to the fact that the price has struggled to reach the pattern resistance line and changed the direction near previous resistance point, traders might expect an

Wed, 11 Jan 2012 16:14:02 GMT

EUR/JPY 1 Hour Chart: Channel Down

Japanese Yen continues to strengthen against the single currency forming almost 500 bars downward channel on H1chart.  Despite high magnitude of 84%, the pattern size and bias indicate a clear bearish signal. Thus, traders might use pattern support and resistance lines to trade the pair. However, some might set small take profit levels and wait the price to show trend reversal signals like emerging double

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