Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

AUD/USD: Potential Bull Flag Forming

Published 01/21/2019, 06:38 AM
Updated 05/14/2017, 06:45 AM

We take a look at the daily charts of EUR/USD, USD/CHF and AUD/USD to highlight key levels and patterns.

EUR/USD Daily

  • After failing to hold above 1.15, the euro appears to be forming a corrective channel.
  • Trading near the lower boundary of the channel, it could provide the opportunity to buy above support.
  • Until a clear breakout is seen, range trading strategies are preferred.

EUR/USD Daily Chart

USD/CHF Daily

  • Prices broke out of a corrective channel, in line with the long-term bullish trend.
  • Look for prices to consolidate or retrace before it resumes the rally.
  • Parity and the 1.0009 high make a likely interim target, before heading for the 1.0129 high.

USD/CHF Daily Chart

AUD/USD Daily

  • A potential bull flag is forming.
  • The 20-day exponential average is providing dynamic support.
  • Use a break of the 0.7247 high to confirm a breakout. However, if bearish momentum returns it takes us back in line with the longer-term bearish trend.

AUD/USD Daily

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.