EUR/AUD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although the beginning of November was remarkable for EUR/AUD as it was the time when the pair commenced an accelerating appreciation, a formation of the rising wedge pattern started only on November 28. According to the SWFX data, the currency pair is likely to prolong the pattern as 72.22% of market players are bullish on the pair. Considering the evidence from technical indicators' side, we do not have a clear idea on the future moves of the pair as indicators are sending neutral signals for short-to-long term.
© Dukascopy Bank SA
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Tue, 10 Dec 2013 06:55:51 GMT

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