AUD/CAD 4H Chart: Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been gradually narrowing its trading range since the beginning of June and formed a Triangle pattern. There is only 50 bars (20%of total pattern's length) left till the pattern's apex, which is at 0.9568 on 30th of July, 16:00 GMT., thus we could expect significant movements in the nearest term. Important is the fact that recently there was a pullback, which occurs in around 60% of triangle pattern; and in 70% of those cases pair is breached in to the same direction as the pullback (downwards in this case). In addition currently pair is trading practically on the pattern's support. All in all, this provides a great trading opportunity.
 

© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 18 Jul 2013 13:25:45 GMT

CAD/HKD 4H Chart: Channel Down

Pair has been slowly depreciating for the past few months.  However, after a recent bounce from the pattern's support we should continue to see a bullish correction towards the pattern's resistance.  Overall trend, as suggested by the long term technicals should remain bearish. It might be that recent choppy sessions might be caused by Fibonacci retracements however dues to the

Thu, 18 Jul 2013 07:25:21 GMT

CHF/JPY 1H Chart: Channel Up

After bottoming out at 103.12, the currency pair started to exhibit bullish sentiments and since then has covered more than 300 pips.  The resistance CHF/JPY is presently facing at 106.30 is the daily R1, but this should eventually give way for a rally to the upper edge of the channel up to 106.82, the current level of the daily R2

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.