USD/SGD 1H Chart
Emerging Pattern: Channel Up
USD/SGD has formed a Channel Up on a 1H chart. And even though it is only 93 bars long, both the upper and lower trend-lines were respected by the market on several occasions, confirming their topicality in shaping the chart of the price. Technical indicators at the moment are not sending any particular signals, but the traders (71% of them) are largely bullish on the pair.
GBP/JPY 1H Chart
Emerging Pattern: Channel Down
GBP/JPY has formed a Channel Down on a 1H chart. Currently it is attempting to reach the upper edge of the pattern at 143.35, but the downside risk is significant and the chance of a rally emerging, given the present set-up, is low. However, the SWFX traders are undecided with respect to the scenario the price will adhere to, as there is almost no difference between the amounts of long (47%) and short (53%) positions.
AUD/USD 1H Chart
Emerging Pattern: Channel Down
AUD/USD has formed a Channel Down on a 1H chart. Moreover, the pair has recently tested the bearish trend-line at 1.0333, meaning that the bias is negative. Nonetheless, AUD/USD is surging and can potentially extend the rally up to the 200-bar SMA at 1.0315. Meanwhile, 58% of market participants are holding short positions.
