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TFC Commodity Trading Forum

Aussie Dollar/ Explosive Chart Pattern *PIC*

The Aussie Dollar is in a large Symmetrical Triangle and in an explosive pattern. All the major moving averages have also converged together which also tends to see a big move nearby. While Symmetrical Triangles do not suggest direction on the breakout or breakdown they are what's called "Continuation Patterns" and do suggest the breakout will be on the upside. No guarantees of course ( Gold broke down of of its pattern) and one must draw their own conclusions. But a sharp move out of this convergence is nearby. An option Strangle would capture a breakout either way. With DX backing off resistance at 81.50 there should be some significant price moves on related markets.