USD/CAD reveals pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The USD/CAD currency exchange rate has revealed a channel up pattern, which has guided it up since the Federal Reserve Rate hike on May 4th. Most recently, at midnight to Tuesday, the pair bounced off the upper trend line of the pattern and started to consolidate near the 1.3000 mark.

In the near term future, the pair was expected to fluctuate sideways until the pair would encounter the combination of the lower trend line of the channel up pattern and the 50-hour simple moving average. If the rate resumes its surge, the weekly R2 simple pivot point at 1.3042 and the 1.3050 mark are highly likely set to act as resistance, before the rate approaches the 1.3100 level.

On the other hand, a breaking of the pattern could result in the rate first looking for support in the weekly R1 simple pivot point at 1.2971. Afterwards, the previous May high level at 1.2913 might once again act as support, as it did during Monday's trading.
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Tue, 10 May 2022 14:01:52 GMT

EUR/USD remains near previous levels

Since the middle of Monday's trading hours, the EUR/USD currency exchange rate has been trading around the 1.0560 mark. Short term support is being found in the 1.0540 mark and resistance is provided by the 1.0580 level. Meanwhile, previous forecasts remained valid. If the pair declines, the 1.0500 is expected to act as support, before the last week's low level

Tue, 10 May 2022 11:28:22 GMT

GBP/JPY respects round levels

This week, the GBP/JPY currency pair was finding resistance and bouncing off round exchange rate levels. Namely, the 161.50 and 162.00 levels were acting as resistance. In the meantime, support was being provided by the 160.08/160.43 zone. A move below the support zone could almost immediately encounter support in the 160.00 level. Further below, take into account the weekly S1

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