AUD/CAD 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair  has been gradually narrowing its trading its range—70 pips in 100 bar period. In addition, trading volume lately has been somewhat low. It could be easily taken as another indication that we should see pattern's bake out soon. Technical indicators, however, do not give clear or convincing suggestions what and in which direction is going to happen. There are some indications that some role is played by the Fibonacci retracements of the 1st of July to 3rd of July sell off. However, it seems that they were just secondary technical level who had rather minor, secondary role in the pairs movements lately.  

© Dukascopy Bank SA
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Wed, 10 Jul 2013 08:41:49 GMT

EUR/USD 1H Chart: Channel Down

Comment: Pairs development lately has been rather interesting—calm and reasonably predictable trading period are followed by 70 to 130 pips sell offs. However, even with these facts pattern's quality rating is well above the average. On the other hand, such moments indicate that traders can also expect that pair might gain significant momentum once it touches or breaches the pattern's

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