USD/CAD 1H Chart Emerging Pattern: Rising Wedge

by Admin

GBP/AUD 1H Chart

Emerging Pattern: Ascending Triangle

During the last 250 trading hours the currency pair was forming an Ascending Triangle. Being that GBP/AUD is closing in on the apex of the pattern, we should soon see either a bullish or bearish breakout. However, traders are not decided on the pair’s outlook yet, 56% of them are holding long positions. Technical indicators are also largely silent.

GBPAUD

USD/CAD 1H Chart

Emerging Pattern: Rising Wedge

The trading range of USD/CAD has been decreasing over the last 139 hours, resulting in formation of a Rising Wedge on a 1H chart. Nonetheless, three out of four market participants believe the U.S. Dollar is to continue the up-move, even though the pattern implies an increased likelihood of a reversal of the recent bullish trend in the near future.

USDCAD

AUD/CHF 1H Chart

Emerging Pattern: Channel Down

After reaching a high of 0.9964 on Apr 3 the price has been posting lower peaks and lower troughs, marking the boundaries of a Channel Down pattern. Just recently the pair has bounced off the falling support line at 0.9559 and is therefore expected to make a bullish correction before following the major bearish trend.

AUDCHF