AUD/SGD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the past 100 bars the trading range of AUD/SGD has been generally contracting around the long-term moving average for 200 periods, resulting in the appearance of the symmetrical triangle on an hourly chart. Noteworthy is the fact that there is room only for a few bars to be formed until the apex of the pattern is reached, meaning the breakout may occur at any moment now.
Judging by the daily technical indicators, most of which are giving ‘buy' signals, the risks are skewed to the upside, but then the currency pair will have to overcome 1.1803 and 1.1824 on the way to the local high.
© Dukascopy Bank SA
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Wed, 25 Sep 2013 07:27:01 GMT

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