GBP/AUD 4H Chart: Breaches 50-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Mon, 15 Oct 2018 06:18:45 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Buy
Sell
Alligator (13; 8; 5)
Neutral
Buy
Buy
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇒
⇗
⇗
The British Pound has appreciated substantially against the Australian Dollar since the middle of August after the currency pair reversed from the lower boundary of an ascending channel pattern at 1.7290.
The exchange rate has breached the 50-hour simple moving average at 1.8461 during the morning hours of Monday's trading session.
Everything being equal, it is likely that the GBP/AUD pair fills the open gap north within this session.
On the other hand, the currency exchange rate could continue moving downward and aim at a support cluster formed by the combination of the weekly and the monthly PPs at 1.8378 during the following trading session.
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