Baxia Markets News

AUDUSD Breaks Out The Ascending Triangle

Written by Baxia Markets | Oct 18, 2021 7:07:58 PM

 

The price of AUDUSD broke out of the ascending triangle on Oct 11,  it also broke out of the upper Bollinger bands. Now, the price still moves up. Although it meets several small resistance blocks, the upward trend has not stopped. The price had moved above the middle line of the Bollinger Bands since the breakout time. It looks like the upward trend power is still strong.

 

 

Recently, the Bollinger Bands shrunk, as we know, a breakout signal. Also, at this point, the price line touches the lower Bollinger Band, meaning the price has already met resistance here. The Ichimoku cloud stopped growing here. MACD seems to get to the cross point. The Standard Deviation also went down. The Bulls Power went down to the zero level.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.