AUD/USD 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After the Australian Dollar pierced through the upper boundary of the falling wedge pattern, the outlook has improved noticeably for its currency pair with the US Dollar. Moreover, a few hours ago the pair has also breached the 200-hour SMA at 0.7036. Forecasts are optimistic as AUD/USD is capable of setting a new this month's high soon, in case it grows above the 0.7155 mark. However, before that the cross must penetrate its closest resistance represented by daily and weekly R1s at 0.7163/80. While market sentiment supports bullish scenario in 71% of all cases, daily technical studies are in turn strongly bearish as they see bearish risks for the Aussie in the next 24 hours.

© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 09 Sep 2015 05:35:54 GMT

USD/CAD 4H Chart: Rising Wedge

There have already been two unsuccessful attempts of the Greenback to rebound from the lower edge of the rising wedge pattern, meaning that the risk of a failure is rising constantly. At the moment USD/CAD is testing the trend-line again, and we are sceptical about the ability to resume growing for a third time in two weeks. Bearish scenario is

Tue, 08 Sep 2015 14:15:05 GMT

XAU/USD 1H Chart: Descending Triangle

After touching the Aug high at 1,170 the bullion resumed its long term downward trend. However, bears were unable to send the price below 1,117 for two consecutive times on Aug 26 and Sep 4. As a result, the descending triangle pattern was formed. On the one hand, statistically 64% of similar patterns are confirmed to the south. On the

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.