trade pattern ideas · 17/04/2017 trade pattern ideas. dukascopy ank sa, route de pre-ois 20,...
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17/04/2017
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]
Monday, April 17, 2017 07:30 GMT
Comment: After an unsuccessful
attempt at forming a head and
shoulders pattern at 0.9125, EUR/
GBP entered a correction phase
with distinct waves on the weekly
and daily time-frames. The recent
developments, however, show
some bullish potential again on the
hourly chart, suggesting that
another solid wave might be coming
up. The pair is currently on the edge
of the pattern at 0.8478 and might
possess enough momentum to push
through the area if tested
consistently. The break would open
the way for tests of 0.8481 and
most likely give in to the area with a
retracement before more ambitious
movements emerge.
EUR/GBP 1H Chart: Falling Wedge
Level Rationale Indicator 30M 1H 4H
R4 0.8486/92 Upper Bollinger Band; Cloud Resistance MACD (12; 26; 9) Sell Sell Sell
R3 0.8483 55-hour SMA RSI (14) Neutral Neutral Neutral
R2 0.8481 Daily Pivot Point Stochastic (5; 3; 3) Sell Sell Neutral
R1 0.8478 ADX (14) Buy Sell Neutral Wedge Upper trend-line
CCI (14) Sell Neutral Neutral S1 0.8474 20-hour EMA
S2 0.8465 Daily S1 AROON (14) Buy Buy Buy
S3 0.8461 Bottom Bollinger Band Alligator (13; 8; 5) Neutral Sell Sell
S4 0.8454 Daily S2 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]
Monday, April 17, 2017 07:30 GMT
Comment: GBP/JPY has set a strong
downward trend-line to guide it
away from 147.45, the December
2016 high. The pair has additionally
formed a falling wedge on the
hourly time-frame, meaning that
the trend-line might be luring it
closer again. The cross is trading mid
-pattern with risks skewed to the
upside until 136.16, the upper
boundary of the pattern. A set of
levels will provide resistance outside
of the pattern causing the motion to
become flatter and potentially lead
to a retracement before a more
prominent rally. Immediate support
lies at 135.63 and will come into
play if the pair makes another wave
before breaking the pattern.
GBP/JPY 1H Chart: Falling Wedge
Level Rationale Indicator 30M 1H 4H
R4 136.28 Daily Pivot Point MACD (12; 26; 9) Sell Sell Sell
R3 136.17 Monthly S2 RSI (14) Neutral Neutral Buy
R2 135.98 20-hour EMA Stochastic (5; 3; 3) Sell Sell Neutral
R1 135.91 ADX (14) Sell Sell Sell Daily S1
CCI (14) Neutral Neutral Buy S1 135.63 Daily S2
S2 135.57 Wedge Bottom trend-line AROON (14) Buy Buy Buy
S3 135.37 Weekly S1 Alligator (13; 8; 5) Sell Sell Sell
S4 135.27 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]
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