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GBP/AUD 4H Chart: Large Triangle - Small MovesRecently the Pound reversed its direction against the Australian Dollar and formed a medium term channel patter, which just recently did something that was largely unexpected. The pair has revealed a large scale triangle pattern by breaking a medium term ascending channel pattern, which was expected to represent one of the many rates rather long term ascends. If one zooms out the pair’s chart, the situation is more easy to understand. In regards to the short term, the pair is likely going to decline down to a strong support cluster near the 1.67 mark.
by UnknownUnicorn890690
AUD/CHF breaks long term patternThe Australian Dollar recently marked another bounce off from the resistance of the 2017 high level against the Swiss Franc. As a result a medium scale channel pattern has formed. The descending channel managed to break through the support of the previously active large scale pattern. Most recently the Aussie made attempts to regain its losses. However, the pair failed to rebound, as the previously active patterns support acted as a resistance together with the weekly PP and the 55-period SMA just above the 0.7619 mark. Due to the combination of the minor factors it is expected that the pair will decline down to the 0.7558 level, where the weekly S1 and the 61.80% Fibonacci retracement level are located at.
Short
by UnknownUnicorn890690
GBP/AUD 1D The rebound has occuredAfter the recent fundamental developments in the UK the British Pound has jumped. However, the move was expected on the larger scale charts. The GBP/AUD is no exception to the just described rule. It can be observed on the daily timeframe chart that the pair had closely traded near the lower trend line of a long term support line. Meanwhile, the 23.60% Fibonacci retracement level at the 1.62 mark was supporting the trend line. As a result the surge could have been expected. However, it seems that the jump is about to be over, as the pair is approaching a strong resistance cluster near the 1.70 mark.
Long
by UnknownUnicorn890690
2
EUR/AUD set for a surge until 2018In regards to the short term The common European currency has recently been volatile against the Australian Dollar in a set range. The range is located from the 1.4980 level down to the 1.4850 mark. The reason is the fact that the support line of the medium term trend has held its ground together with the 200-period SMA and forced the currency exchange rate into a strong but rather dispersed resistance cluster from 1.4935 to 1.4980. In general there are two possible short term scenarios. Either the pair will break to the upside or retreat. In the case of a surge the 1.5085 mark will be targeted next. If the rate falls, below the medium term trend line, the 1.4780 level will provide support.
Long
by UnknownUnicorn890690
EUR/AUD- A Euro pair with a sort term patternIn the aftermath of the Jackson Hole Symposium the common European currency has surged against most of its counterparts. The Australian Dollar is not an exception to the rule. However, the EUR/AUD currency pair has a very unique mark, which was noticed by the Dukascopy analysts on Wednesday. A short term pattern was mapped, which represents the recent surge of the Euro against the Aussie. In accordance with the pattern the currency exchange rate is set to surge back up to the 1.51 mark. To be precise, it could reach for the resistance cluster near the 1.5110 mark, where the weekly and monthly R1s are located at.
Long
by UnknownUnicorn890690
AUD/USD reaches medium term supportThe only recently discovered medium term channel pattern has done his part in supporting the Aussie against the US Dollar. However, it has occurred differently than expected. The rate was not supported by the combined support of the weekly PP at 0.7901 and the 200-hour SMA at 0.7895 mark. Instead the pair was supported by a monthly level of support at the 0.7880 mark together with the lower trend line of the mentioned channel up patter. The pair is about to face the resistance of the 55 and 100-hour SMA. Only if that is passed, a continuation of the surge is to be expected.
by UnknownUnicorn890690
3
GBP/AUD Channel Down at crosspointDue to the reason that the Jackson Hole symposium will offset any pair, which involves the US Dollar, the choice to review the GBP/AUD currency exchange rate was up for dissection. The pair is approaching the lower trend line of the most dominant ascending channel pattern, which coincides with the support of the monthly S1 at the 1.6150 mark. In addition, the 23.60% Fibonacci retracement level is located at the 1.6185 mark. It is most likely that the currency pair will reach the support and rebound against it. First it should form a short term ascending pattern and afterwards a larger size pattern with the same direction.
Long
by UnknownUnicorn890690
AUD/USD reconfirms support lineDuring the second half of Monday’s trading session the Australian Dollar had reconfirmed the lower trend line of an ascending channel pattern against the US Dollar. After the reconfirmation the pair was also supported by the 55-hour SMA, which approached the support line of the ascending pattern. By looking at the various levels of significance, it can be stated that the pair will surge. The reason for that is the fact that until the 0.80 level, as the weekly R1 is the closest resistance level at that mark. However, one should look at whether there exist any other smaller timeframe resistance levels, which could slow down the surge.
Long
by UnknownUnicorn890690
AUD/USD confirms patternsThe patterns of the AUD/USD currency pair, whose existence was speculated on Wednesday, have fully revealed themselves on Thursday. First of all, it can be seen that the junior descending channel pattern’s borders needed to be adjusted. Secondly and most importantly, the medium term channel was spotted. In general, the currency exchange rate has hit the combined support of the two mentioned patterns. That means that the currency pair is most likely going to surge in the short and very short time frames. The reason for that is that the rate will reach the combined resistance of the hourly SMAs and upper trend line of the junior pattern. The point, where that occurs, will become a critical one, as there either a breakout or a extension of the decline could occur.
Long
by UnknownUnicorn890690
AUD/USD breaks to downsideThe Australian Dollar has broken out of the short term triangle pattern to the downside against the US Dollar. Due to that reason a full review of the situation on the pair’s charts has been done. First of all it can be noted that the breakout to the downside could have been forecasted by examining the large scale situation and identifying a large scale ascending channel pattern. It is expected that a new medium term decline is about to occur. The next target for the pair would be the support cluster near the 0.7880 mark. However, before it will be reached the currency pair will face the various support levels below it.
Short
by UnknownUnicorn890690