EUR/AUD 4H Chart: Reveals new channel pattern - Trade Pattern Ideas - Dukascopy Bank
Mon, 28 Jan 2019 10:10:22 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Buy
Neutral
Alligator (13; 8; 5)
Sell
Sell
Buy
SAR (0.02; 0.2)
Sell
Buy
Buy
Aggregate
⇘
⇒
⇗
The EUR/AUD currency pair has revealed a new junior descending channel pattern. The pair re-tested the upper boundary of the descending channel on January 24.
The exchange rate was trading near the bottom border of an ascending channel at 1.5857 during the morning hours of Monday's trading session.
If the common European currency breaks the ascending channel pattern, the next target for bearish traders would be near the weekly S2 at 1.5731.
However, if the support level formed by the lower boundary of the ascending channel pattern holds, the currency exchange rate could aim for a strong resistance level at 1.5965 during the following trading sessions.
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