Trade Pattern Ideas

GBR.IDX/GBP 4H Chart: Could continue to edge higher
Tue, 17 Sep 2019 06:14:38 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)SellBuySell
Aggregate

The UK 100 index has been appreciating in a junior ascending channel pattern since the end of August. The pair has appreciated about 4.4% in value during this period.

Everything being equal, The GBR.IDX/GBP pair would most likely continue to appreciate in the junior ascending channel during the following trading sessions. Bullish traders might aim for the upper boundary of the channel pattern at 7510.65.

On the contrary, given that the exchange rate is trading near the bottom border of the ascending channel, a breakout might occur during the following trading sessions.


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