Trade Pattern Ideas · -frame, as a falling wedge signals bullish potential. The pair has just...
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09/05/2017 Trade Pattern Ideas
Transcript of Trade Pattern Ideas · -frame, as a falling wedge signals bullish potential. The pair has just...
09/05/2017
Trade Pattern Ideas
Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 [email protected]
Tuesday, May 09, 2017 07:30 GMT
Comment: After posting a top in
March, AUD/NZD worked on
taking the motion lower, but was
not always successful as strong up
-waves accompanied the
movement. The current slip might
also be one of those to induce an
upward motion on the hourly time
-frame, as a falling wedge signals
bullish potential. The pair has just
tested the bottom boundary of
the pattern and is now expected
to surge towards 1.0682 where
the upper line lies. The immediate
target rests at 1.0660 and is likely
to cause a hitch on the way. In
case of a break above the pattern,
1.0705 is to come into play.
AUD/NZD 1H Chart: Falling Wedge
Level Rationale Indicator 30M 1H 4H
R4 1.0705 Daily Pivot Point MACD (12; 26; 9) Sell Sell Sell
R3 1.0691 Wedge Upper trend-line RSI (14) Neutral Neutral Neutral
R2 1.0677 20-hour EMA Stochastic (5; 3; 3) Sell Sell Neutral
R1 1.066 ADX (14) Buy Sell Neutral Daily S1
CCI (14) Sell Sell Neutral S1 1.0648 Bollinger Band; Wedge trend-line
S2 1.0638 Weekly S1 AROON (14) Buy Buy Buy
S3 1.0625 Daily S2 Alligator (13; 8; 5) Neutral Sell Sell
S4 1.0581 Daily S3 SAR (0.02; 0.2) Buy Buy Sell
Aggregate → ↘ ↘
Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 [email protected]
Tuesday, May 09, 2017 07:30 GMT
Comment: April showed a strong
upward motion for GBP/CAD,
causing doubt of whether the
movement is sustainable for a
continuation. While the pair has
established a channel up pattern on
the hourly chart, there are some
clouds in sight. The rate has not
managed to set a decent up-wave
into action and has hit 1.7767 twice,
creating what could turn into a head
and shoulders pattern if the channel
is broken to the downside around
1.7717. While the neck-line is the
most questionable part of the head-
and shoulders, downside action
would still serve as a solid bearish
signal. In case the pair manages to
stay inside of the channel, 1.7885 is
likely to be the next target.
GBP/CAD 1H Chart: Channel Up
Level Rationale Indicator 30M 1H 4H
R4 1.7768 Shoulder; Daily R1 MACD (12; 26; 9) Buy Sell Buy
R3 1.7753 Upper Bollinger Band RSI (14) Neutral Neutral Neutral
R2 1.7750 55-hour SMA Stochastic (5; 3; 3) Sell Sell Neutral
R1 1.7741 ADX (14) Neutral Neutral Neutral Cloud Resistance
CCI (14) Sell Neutral Neutral S1 1.7733 100-hour SMA; 20-hour EMA
S2 1.7724 Daily Pivot Point AROON (14) Buy Buy Buy
S3 1.7721 Weekly Pivot point Alligator (13; 8; 5) Buy Neutral Buy
S4 1.7711 Bollinger Band; Channel trend-line SAR (0.02; 0.2) Buy Buy Sell
Aggregate → ↘ ↘
Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 [email protected]
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