AUD/SGD 1 Hour Chart: Channel Up

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Source: Dukascopy Bank
© Dukascopy Bank
Aussie has appreciated by almost 450 pips against Singapore Dollar since December 15. The price has been fluctuating within a broad channel consisting from 302 bars on H1 chart. The pattern has medium quality and medium magnitude of 64% and 62% respectively. Due to the fact that the price has struggled to reach the pattern resistance line and changed the direction near previous resistance point, traders might expect an emerging double top pattern, which indicates trend direction change.
© Dukascopy Bank
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Thu, 12 Jan 2012 16:33:58 GMT

AUD/USD 1 Hour Chart: Ascending Triangle

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

Thu, 12 Jan 2012 15:38:17 GMT

AUD/CAD 1 Hour Chart: Channel Up

AUD/CAD has formed a channel up. The pattern has medium quality of 64% and magnitude of 44%. Thus, traders will probably expect weak pattern breakout with a potential target around 40 pips. If the price continues movement within channel lines, traders may use support and resistance levels for hedging their positions.

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