USD/SGD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since November 15, USD/SGD has been locked in the narrowing corridor represented by two gradually converging lines. Currently, the pair is a subject to a heavy selling pressure that started to push the pair down after USD/SGD hit a one-month high a day ago. Despite succumbing to the downside pressure, the pair is enjoying a strong support lying at the pattern's lower limit at 1.2509 that prevents a dive below the pattern's boundaries. At the same time, the upswing also remains restricted by 50-hour SMA that has been meandering above the pair for more than 10 hours.
© Dukascopy Bank SA
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Tue, 26 Nov 2013 07:38:04 GMT

EUR/NZD 1H Chart: Channel Up

EUR/NZD has been trading in a 490-pips wide corridor for almost three weeks; the corridor represents a 266-bar long channel up pattern that started on November 7. According to the SWFX data, 60.00% of market players are bullish on the pair that adds to signs that the currency couple is likely to continue its winning streak thus prolonging the pattern.

Tue, 26 Nov 2013 07:23:05 GMT

GBP/USD 1H Chart: Channel Up

Although the British Pound followed a bullish trend against the U.S. Dollar shortly after it touched a two-month low in mid-November, a formation of the channel up pattern started only on November 20. At the moment of writing, the currency couple vacillated close to the pattern's support at 1.6149 but traders were not expecting a breakout, being bullish in 57.96%

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