AUD/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Most of the studies show AUD/SGD is going to keep falling. For one, the pair has formed a high-quality descending channel, and the pattern implies that the price will bounce off of the resistance at 1.0018. At the same time, most of the technical indicators, especially in the four-hour chart, are giving ‘sell' signals. Accordingly, the exchange rate is expected to slide down to 0.9750 before starting a bullish correction within the channel. If this were not enough, the Aussie is also strongly overbought—70% of open positions are long, meaning there is little room for new buyers to enter the market. However, if 1.0018 is broken, the ensuing rally may well extend up to the 200-period SMA at 1.0270.
© Dukascopy Bank SA
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Mon, 16 May 2016 06:34:21 GMT

GBP/AUD 4H Chart: Channel Up

GBP/AUD is well-positioned for a rally, since the pair is currently trading right at the lower boundary of the ascending channel. The bullish outlook is reinforced by the facts that last week the price broken through the eight-month down-trend an that a majority of the technical studies is pointing north. Also, the distribution between the bulls (34%) and bears (66%)

Fri, 13 May 2016 14:31:05 GMT

GBP/USD 4H Chart: Channel Up

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