CHF/SGD 1H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since there have already been two distinct tests of the support around 1.36 after a precipitous decline from 1.38, there is a good possibility CHF/SGD formed a double bottom pattern with a neck-line at 1.3670—the Aug 28 high. Accordingly, if the latter level is breached, the price will start targeting the Aug 13 high at 1.38. The bullish outlook is also implied by the near-term technicals. However, the main risk to the rally right now is represented by the 200-hour SMA at 1.3638, which may send the pair back to the Sep 1 low. In the meantime, most of the traders are holding short positions, namely 73% of them.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 03 Sep 2014 08:48:04 GMT

GBP/USD 4H Chart: Channel Down

The market has been bearish since mid-July, when the Pound was trading at $1.72. Now the price is standing at 1.6450, and, given that GBP/USD has formed a downward channel, the sell-off should extend even further South, potentially down to the 2014 low at 1.6250, as suggested by the four-hour and daily studies.But in the short run we may see

Tue, 02 Sep 2014 13:24:04 GMT

EUR/SEK 4H Chart: Descending Triangle

The single currency has just breached the upper boundary of the descending triangle pattern, meaning that the break-out may take place soon. By crossing the upper trend-line, the pair has also breached an important resistance level at 9.1952, represented by monthly PP/200-period SMA. Technical indicators and market participants support the idea of upward break-out, as former ones send confident positive

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.