AUD/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Even with the recent increase in the volatility the pair has been trading in the dram of the Channel Down pattern rather well.  Increase in volatility also increases the probability of the momentum gains which becomes important due to the fact that pair is currently trading at the pattern's resistance and at the last few bars of predicted pattern length (which gives additional indications about a possible major move some time soon). In support for such scenario comes the distribution of open positions and pending orders—74% or traders are already long on the pair and 72% of pending orders are set to buy the pair as well.
© Dukascopy Bank SA
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