AUD/USD 4H Chart Emerging Pattern: Double Top

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USD/HKD 4H Chart

Emerging Pattern: Rising Wedge

During the last 75 bars the currency pair was contained by two converging trend-lines. This has led to formation of the Rising Wedge pattern on a 4H chart. Most of market participants expect the U.S. Dollar to continue gaining value relative to its Hong Kong counterpart. Besides, technical indicators in aggregate are strongly bullish.


NZD/CHF 4H Chart

Emerging Pattern: Channel Up

NZD/CHF started to trade in a up-trend 130 bars ago, consistently respecting two parallel rising lines that are a little more than 200 pips away from each other. According to the technical studies, the New Zealand Dollar is to stay weak in the short term, but is set recover later on. In the meantime, traders are confidently bullish towards NZD/CHF, 64% of them are long on the pair.


AUD/USD 4H Chart

Emerging Pattern: Double Top

For almost whole March AUD/USD has been rising and underwent a bearish correction only at the very end, after challenging 1.0497. In April the price re-tested this resistance, but failed again, charting a Double Top pattern on a 4H timeframe. At the moment the pair is struggling at the neckline area, while 73% of market participants believe that the support will not be able to hold.