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11/12/2017 - externalcontent.blob.core.windows.net 11dec 17.pdfthe pair for the last four months...
Transcript of 11/12/2017 - externalcontent.blob.core.windows.net 11dec 17.pdfthe pair for the last four months...
11/12/2017
AUD/JPY GBP/AUD
AUD/JPY 1H Chart: Short-term channel could prevail
The bearish sentiment has prevailed AUD/JPY since mid-September. This has sent
the pair for a decline in a descending channel. The Aussie bounced off the upper
boundary of this pattern on December 5 prior to initiating a new wave down. It
seems that a short-term channel has formed; however, the rate should still provide
another confirmation of its upper boundary by edging lower. Technical indicators
suggest that it could be the most likely option in this session. In order to fulfill this
assumption, the Aussie still needs to breach a significant support area set by the
200-, 100– and 55-hour SMAs circa 86.30. In general, a possible downside target during the first part of this week could be the 84.10 territory. In
case the rate continues to fall even further, it might aim for the lower boundary of the senior channel circa 82.50.
Indicator 4H 1D 1W MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate ⇗ ⇘ ⇘
GBP/AUD 1H Chart: Breakout from long-term triangle
GBP/AUD was trading in a symmetrical triangle since mid-2016. This long-term
pattern was breached on November 28 when the bullish sentiment that had driven
the pair for the last four months provided enough strength to edge even higher.
The Pound has since made a retracement from the given triangle and was trading
near the psychological 1.78 mark early on Monday. It is likely that the pair is
delayed near the combined resistance of the 100– and 200-hour SMAs and the
weekly PP circa 1.7770. This could result in a minor period of consolidation near
this area. It is expected that the Sterling depreciates against the Australian Dollar
during the second half of this week in line with the prevailing channel up. On the other hand, the upside target for this week could be the monthly
R1 at 1.82.
Indicator 4H 1D 1W MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate ⇒ ⇒ ⇒
Disclaimer
Everything in this article, including opinions and figures, is provided for informational purposes only and may not be interpreted as financial advice or solicitation of products. Dukascopy group assume no responsibility for the completeness or the accuracy of any data contained in this article. Financial figures indicated in this article have not been verified by the Dukascopy group. Views, opinions and analyses are those of the author of the article, and are not endorsed by the Dukascopy group. Dukascopy group waive any and all warranties, express or implied, regarding, but without limitation to, warranties of the merchantability or the fitness for a particular purpose, with respect to all
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