EUR/DKK 1H Chart Emerging Pattern: Triangle

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NZD/USD 4H Chart

Emerging Pattern: Channel Up

NZD/USD has formed a Channel Up pattern on the 4H chart. The pattern has 57% quality and 50% magnitude in the 85-bar period.

The pattern began on the 15th of March when the pair dropped from 0.8281; currently it is trading in the upper part of the channel at 0.8482; pattern’s resistance and support stands at 0.8544 and 0.8409, respectively. The trading volume seems to be increasing with time and is highly volatile. Technical indicators on aggregate do not give a clear and univocal signal on three different timeframes. At the same time, long traders could focus on the cluster of resistance levels only 20 pips higher, with the Fibonacci Retracement, Bollinger Band, Weekly pivot (R2) and Daily pivot (R1) standing around 0.85. Moreover, Daily pivot (R2) stands at 0.8519, pattern’s resistance and Weekly pivot (R3) at 0.88546/51.

As to short traders, they could focus on the Daily pivot (PP) at 0.8450, Bollinger Band and 4H support at 0.8439. The next stop is pattern’s support and the Fibonacci Retracement at 0.8411. Another massive support level is around 0.8374/57, where Bollinger Band, Fibonacci Retracement and Weekly and Daily supports can be found.


AUD/CAD 1H Chart

Emerging Pattern: Ascending Triangle

AUD/CAD has formed a small pattern on a 1H chart, as its length is only 39 bars. Nonetheless, the Ascending Triangle has high quality and magnitude parameters, since the currency pair has already managed to confirm both the resistance line at 1.0618 and the support up-trend, which is currently reinforced by the 200-bar SMA at 1.0592.


EUR/DKK 1H Chart

Emerging Pattern: Triangle

The trading range of EUR/DKK has been narrowing for the past 362 hours, resulting in appearance of a Triangle pattern on the pair’s 1H chart. Soon enough the price will reach the apex of the geometric shape, though technical studies remain completely silent, suggesting that EUR/DKK is to stay side-lined. On the other hand, most (73%) of positions are short on the pair.


AUD/SGD 1H Chart

Emerging Pattern: Channel Down

AUD/SGD has been contained by two nearly parallel falling trend-lines for the last 246 trading hours. At the moment the spot price is near the upper edge of the Channel Down, meaning that the probability of the down-move is currently increased. This view is shared by a majority (73%) of market participants.