© Dukascopy Bank SA
Channel type pattern's are not the most exiting and usually give just the general impression of what direction the pair is going to. This case is a bit different. First of all, the pair has already advanced above the 2013 high and at the moment is trading in the highest level since December, 2011. Secondly, after breaching the 2013 high pair seems to be gaining some momentum and as pairs magnitude rating suggests, there is a high chance of major moves. Third of all, only period where the pair went significantly away from the theoretical path as in the beginning of the pattern. All in all, it seems we have a pattern which offers significant trading opportunities in term so planned moves and volatility.
© Dukascopy Bank SA