AUD/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar recently surged against the Japanese Yen in an ascending channel pattern. At the same time the currency exchange rate is also trading in accordance with a symmetrical triangle pattern, which has been forming since June. Although, the triangle's resistance line is also a downtrend, which has provided resistance to the pair since 2014, and the line was reached recently. After reaching the resistance the rate rebounded and has been moving lower. By taking into account these factors, it can be easily concluded that the pair is set to form a new descending pattern, which will lead the Aussie down to the triangle's support line against the Yen. Moreover, the rate can be watched further, while awaiting a breakout to the downside.
© Dukascopy Bank SA
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Wed, 02 Nov 2016 10:51:58 GMT

EUR/AUD 4H Chart: Channel Up

As the Aussie trades against other currencies in a triangle pattern on a larger scale, the EUR/AUD exchange rate is an interesting and quite unclear case. A few weeks ago the rate seemed to have broken out of the descending triangle pattern. However, the rate rebounded on October 26 due to fundamental data, as the US election shook the markets,

Wed, 02 Nov 2016 07:31:37 GMT

NZD/JPY 4H Chart: Rising Wedge

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