GBP/JPY 1H Chart Emerging Pattern: Channel Down

by Admin

USD/SGD 1H Chart

Emerging Pattern: Channel Up

USD/SGD has formed a Channel Up on a 1H chart. And even though it is only 93 bars long, both the upper and lower trend-lines were respected by the market on several occasions, confirming their topicality in shaping the chart of the price. Technical indicators at the moment are not sending any particular signals, but the traders (71% of them) are largely bullish on the pair.

USDSGD

GBP/JPY 1H Chart

Emerging Pattern: Channel Down

GBP/JPY has formed a Channel Down on a 1H chart. Currently it is attempting to reach the upper edge of the pattern at 143.35, but the downside risk is significant and the chance of a rally emerging, given the present set-up, is low. However, the SWFX traders are undecided with respect to the scenario the price will adhere to, as there is almost no difference between the amounts of long (47%) and short (53%) positions.

GBPJPY

AUD/USD 1H Chart

Emerging Pattern: Channel Down

AUD/USD has formed a Channel Down on a 1H chart. Moreover, the pair has recently tested the bearish trend-line at 1.0333, meaning that the bias is negative. Nonetheless, AUD/USD is surging and can potentially extend the rally up to the 200-bar SMA at 1.0315. Meanwhile, 58% of market participants are holding short positions.

AUDUSD