EUR/JPY 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Euro has been appreciating against the Japanese Yen since early November, and on November 20 after hitting the 200-hour SMA, the pair formed a channel up pattern. The pattern is now 323 bar long, and 69% quality and 90% magnitude mean that even slight movements of the pair may lead to significant profits for traders. While technical indicators are not univocal and aggregate technicals are neutral, SWFX market sentiment is strongly bearish, at 61% of traders are holding short positions. It means that in a short-term the pair can dip toward pattern's support. Nevertheless, the first key level for short traders is located at 140.95, represented by a recent low and a 4H S1.
© Dukascopy Bank SA
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Wed, 11 Dec 2013 14:40:47 GMT

EUR/AUD 1H Chart: Rectangle

EUR/AUD currency pair has been highly volatile during the last two days, as first the pair almost reached pattern's resistance, then pulled back to the lower boundary, while at the moment of writing bulls were making another attempt to the penetrate the key resistance level. While aggregate technical indicators are mixed, market sentiment cannot also be a very reliable source

Wed, 11 Dec 2013 12:47:39 GMT

GBP/AUD 4H Chart: Channel Up

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