AUD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/USD was capped at 1.0557, then at 1.0463, and formed a downside channel pattern on the 1H chart. The pattern has 58% quality along with 79% magnitude in a 147-bar period.
The pair slowed near the support level around 1.0247, and now is trying to rebound. The RSI indicator supports the idea of a possible price recovery, after it bounced off the critical 30% level. If the price grows, the forecast target for bullish investors could be around 1.0406, where the present resistance level stands.
The present bias remains neutral on 1h timeframe, while indicators on 1D chart point at a Sell signal. Bears may focus their attention on the key level around 1.0318. If the price rebounds from 1.0318, the next possible target for bears would be around 1.0229. If it breaks the support at 1.0229, the second target for short traders might be 1.0188.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 06 Apr 2012 09:58:24 GMT

NZD/USD 1H Chart: Descending triangle

NZD/USD was decreasing during the last week, forming a Descending triangle pattern. The formation has 76% quality along with 71% magnitude within 117 bars. The price recoiled from the pattern's support level at 0.8123, and slowed testing the resistance at 0.8169. Bullish investors may focus their attention on the key level around 0.8178/97. If the price breaks this level, the forecast target for long traders

Thu, 05 Apr 2012 07:54:00 GMT

USD/JPY 1H chart: Triangle

USD/JPY was consolidating during last two days and formed a triangle pattern on a 1D chart. The formation has 73% quality along with 50% magnitude in a 34-bar period. The pair eased after it touched the resistance around 84.17 on March 15, and now is trading in 82.00 to 82.30 range. The formation would not last long, so traders may expect support or resistance

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.