EUR/AUD 1H Chart Emerging Pattern: Channel Up

by Admin

EUR/AUD has formed a Channel Up on a 1H chart and is presently closing in on the bullish support at 1.2920 that is expected to initiate a short-squeeze up to the upper edge of the channel at 1.3030. This scenario goes in line with the current sentiment of the SWFX traders, 71% of whom are long on the currency pair.


AUD/CHF 1H Chart

Emerging Pattern: Rectangle

AUD/CHF has formed a Rectangle on a 1H chart by fluctuating within a 90-pip wide horizontal corridor for the last 149 bars. At the moment the currency pair is inclined to move upwards, as it has recently bounced off the support line. Moreover, a notable majority of positions opened on AUD/CHF are long.


GBP/AUD 1H Chart

Emerging Pattern: Channel Down

GBP/AUD has formed a narrow for its usual fluctuations Channel Down on a 1H chart, but has been consistent in respecting both declining trend-lines throughout the last 148 bars. Nonetheless, most of traders are holding long positions, suspecting that a reversal is underway and the resistance at 1.4862 will be unable to halt it.