AUD/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Most of the studies show AUD/SGD is going to keep falling. For one, the pair has formed a high-quality descending channel, and the pattern implies that the price will bounce off of the resistance at 1.0018. At the same time, most of the technical indicators, especially in the four-hour chart, are giving ‘sell' signals. Accordingly, the exchange rate is expected to slide down to 0.9750 before starting a bullish correction within the channel. If this were not enough, the Aussie is also strongly overbought—70% of open positions are long, meaning there is little room for new buyers to enter the market. However, if 1.0018 is broken, the ensuing rally may well extend up to the 200-period SMA at 1.0270.
© Dukascopy Bank SA
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Mon, 16 May 2016 06:34:21 GMT

GBP/AUD 4H Chart: Channel Up

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Fri, 13 May 2016 14:31:05 GMT

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