Day: December 20, 2009

December 20
2009

Symmetrical Triangles on GBP/JPY D1 — December 20th 2009

A somewhat rough symmetrical triangles pattern has formed on the D1 timeframe chart of the GBP/JPY currency pair. Considering the general bearish trend on this timeframe period, the pair has an elevated chance of breaking for a downtrend with a target somewhere close to 137.50. A signal would be a close below the lower border of the triangle with a consecutive bounce off this limit (southwards, of course). The bullish breakout is definitely possible too, but I wouldn’t […]

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December 20
2009

Australian Dollar to Decline on Interest Rate Outlook

The Australian dollar posted a significant decline this week and may extended its losses versus currencies like the U.S. and the Canadian dollar after policy makers affirmed that interest rates may not be hiked further in the short term, decreasing attractiveness for the Aussie dollar in currency markets. Australia was the first country among world’s wealthiest nations to raise interest rates this year showing resilience after the most severe […]

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