XAU/USD 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The yellow metal has been retreating since the middle of autumn; however, XAU/USD embarked on formation of the channel down pattern only in November when the precious metal dived below its short and long-term SMAs. The corridor is about 158-bar long and has average quality and magnitude. Lack of fresh data releases during Christmas time mollified selling pressure thus aiding XAU/USD to bounce off the pattern's support and may even help the pair to surpass its 50-bar SMA taken into account that 61.26% of market players are bullish on the pair.
© Dukascopy Bank SA
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Fri, 27 Dec 2013 11:54:56 GMT

AUD/USD 4H Chart: Channel Down

As mentioned in the yesterday's evening issue of Trade Pattern Ideas, among many of the Aussie's crosses, including AUD/USD, we may observe emergence of a channel down pattern starting from Oct 23. This particular formation is nearly 300 bars long and is likely to continue developing, as suggested by the four-hour and daily technical indicators, while the weekly ones are

Fri, 27 Dec 2013 07:12:55 GMT

EUR/AUD 4H Chart: Channel Up

Since early November the Euro has been appreciating versus the Australian Dollar, forming a channel up pattern that took the pair to more than a five-year high. A stab to this peak incited a sharp decline of the pair that slumped to the pattern's support. However, thanks to the 50-bar SMA that is sitting close to this support zone, the

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