USD/SGD 1H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Cross of the US and Singapore dollars has been gradually narrowing its trading range (50 pips in 100 bar period) and formed a Triangle pattern. Currently pair is trading around 100 bars from the pattern's apex, which is at 1.2684, of 2nd of August 17:00 GMT. It is a sufficient distance for the traders not ignite any major rallies/sell offs of the pair and develop in the ranks of the pattern further. Medium term technicals and long term Stochastic indicator point at depreciation of the pair suggesting it will rebound from the pattern's resistance/daily R2 around 1.269.

© Dukascopy Bank SA
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Mon, 29 Jul 2013 15:02:10 GMT

XAU/USD 1H Chart: Triangle

Another Triangle pattern today can be observed in the gold/greenback pair. Pair apex is at 1325.38 on 1st of August, 18:00 which is a substantial distance for any profile traders not to feel cornered and ignite any major moves. Short and medium term technicals give neutral outlook which only supports the idea that the pair remain bounded by the pattern.

Mon, 29 Jul 2013 13:21:31 GMT

USD/JPY 1D Chart: Channel Up

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