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Day: June 17, 2012
June 172012
Ascending Channel on EUR/GBP @ D1
The daily chart of EUR/GBP currency pair is currently showing a completely formed ascending channel pattern. Its formation began on May 7 this year after a tremendous weekly price gap, so the channel stands out of the rest of chart bars quite clearly. Also, there were at least four upper and three lower border confirmations. The image below depicts the current EUR/GBP pattern marked with the yellow lines. The cyan […]
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June 172012
Ascending Triangle on AUD/JPY @ H4
An ascending triangle of a rather rough form is being displayed by the H4 AUD/JPY chart now. The triangle services as a continuation signal for the bullish wave started back on June 1. A bearish breakout is not recommended for trading in case of the ascending triangle Forex pattern. Please see the screenshot of the AUD/JPY chart below. The yellow lines show the triangle’s borders. The horizontal cyan line is a trigger-level for a breakout entry. The horizontal green line is […]
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