AUD/USD 4H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the beginning of March the Aussie has been appreciating against the US Dollar, eventually forming a double top pattern. Since double tops arise at the end of the upward trends, a bearish trend is soon likely to take over. Technical studies also imply a decline, but in longer timeframes a recovery is possible, suggesting that the pattern might turn into a triple top. This could occur only if demand, represented by the 200-period SMA around 0.7454, is sufficient to cause a rebound. A failure to regain the bullish momentum is to set the AUD/USD pair on a bearish path, until the March low of 0.7108 is reached, with another interim support located at 0.7415, namely the March 16 low. Meanwhile, 68% of traders hold long positions.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 06 Apr 2016 09:05:18 GMT

EUR/AUD 1H Chart: Broadening Rising Wedge

The EUR/AUD cross is now poised for more weakness, as that is the direction, where the rising wedge usually breaks out. Moreover, market sentiment is bolstering this possibility, as 54% of all open positions are short. However, the 55-hour SMA has been reinforcing the wedge's lower border since it first emerged, making it difficult for a breakout to occur just

Wed, 06 Apr 2016 08:21:06 GMT

USD/JPY struggles to preserve the channel

Although the Buck appreciated against most major peers on Tuesday, a rather serious loss was registered against the Japanese Yen.

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.