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  1. AUDUSD: Triangle Breakout and the 100 and 200 SMA support zones

    by , 10-29-2014 at 10:07 AM


    AUDUSD finally made a forex breakout from the triangle consolidation pattern it has been moving in for almost a month, indicating that further gains could be in the cards. As you can see, price made higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame.
    The pair recently climbed past the .8800 major psychological resistance at the top of the triangle, which ...