AUD/USD 1 Hour Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
An ascending triangle has emerged on H1 AUD/USD chart. Although this kind of pattern suggests trend continuation, it has medium quality of 53% and downward breakout is also possible within the next few days. In case of evident bullish breakout, the price will be eventually supported by the current pattern resistance level around 1.0368 and the initial targets for traders will be nearly equal to the pattern width at reversal points. However, the pattern magnitude of 64% suggests more conservative profit and loss level establishment.
 

© Dukascopy Bank
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Fri, 13 Jan 2012 18:34:58 GMT

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Thu, 12 Jan 2012 15:42:54 GMT

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