© Dukascopy Bank
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 emerging double top pattern, which indicates trend direction change.
© Dukascopy Bank