AUD/USD 1 Hour Chart: Ascending Triangle

Source: Dukascopy Bank
© Dukascopy Bank
An ascending triangle has emerged on H1 AUD/USD chart. Although this kind of pattern suggests trend continuation, it has medium quality of 53% and downward breakout is also possible within the next few days. In case of evident bullish breakout, the price will be eventually supported by the current pattern resistance level around 1.0368 and the initial targets for traders will be nearly equal to the pattern width at reversal points. However, the pattern magnitude of 64% suggests more conservative profit and loss level establishment.
 

© Dukascopy Bank
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Fri, 13 Jan 2012 18:34:58 GMT

GBP/USD H1 Chart: Falling Wedge

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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

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