GBP/AUD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
At first glance one sees that the Pound is depreciating against the Australian Dollar in a simple descending channel pattern that has the characteristics of a typical medium term pattern. By having a second look, it can be seen that the medium term channel pattern is a representation of a larger descending channel's inner fluctuations. However, on a massive scale the currency exchange rate is in a triangle. The currency exchange rate has reached the lower trend line of the triangle pattern, and this fact indicates that the currency exchange rate is set to rebound or either break out to the downside. Both situations are exploitable for profit, and because of that traders are advised to watch the pair closely.
© Dukascopy Bank SA
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Fri, 17 Feb 2017 13:41:14 GMT

CHF/SGD 4H Chart: Channel Up

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Fri, 17 Feb 2017 08:57:55 GMT

GBP/USD 1H Chart: Channel Down

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