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Daniel Lemos

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GBPUSD: RISING WEDGE

dFX Posted 6 Jan. as Analysis on GBP/USD, Target: 1.5892, Date: 3^rd of March, 12:00 GMT in #Technical analysis #GBP/USD

On this major we can see that is forming a rising wedge pattern. This pattern is caracterized such as:

A continuation or reversal pattern,
Price forms higher swings highs and higher swing lows wich both converge towards one point,
The pattern is confirmed on a break of the lower trendline of pattern.

The important Rising Wedge Pattern, when verified near a significant resistance has a high probability of becoming a bearish reversal pattern.
The maximum of last week ( 1.6603), see the horizontal bl…

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AUDUSD IS FORMING A REVERSAL PATTERN (DOUBLE BOTTOM)

dFX Posted 3 Jan. as Analysis on AUD/USD, Target: 0.9750, Date: 3^rd of March, 12:00 GMT in #Technical analysis #AUD/USD

This analysis was based exclusively on the graphical / technical analysis.
As can be seen in the chart , the pair AUDUSD is in a downtrend ( long-term trend ) since the day 18.04.2013, because because the price is below the moving average 200 periods .
Currently the price has tested the support zone of 0.8850 3 times which indicates that this area is of high importance and we should have some care .
To add to this level , we have the formation of a reversal pattern (double bottom) , which indic…

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