USD/NOK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following an eventless second half of December the US Dollar resumed appreciation against the Norwegian Krone. However, considering that USD/NOK is currently trading next to the upper boundary of the channel, which is reinforced by the recent highs and weekly R2 level, the currency pair is likely to retreat from 7.80/7.77 to the support at 7.70.
In case the resistance fails to contain the buying pressure, the rate is likely to rise up to 7.90, namely the Dec 16 high. As for the SWFX sentiment, most of the traders are long the US Dollar—61% of open positions are long, even though the technical indicators are mixed.
© Dukascopy Bank SA
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Wed, 07 Jan 2015 15:24:13 GMT

EUR/JPY 1H Chart: Channel Down

The single currency has been underperforming Japanese yen since last Friday in a constant downward trend, which led to emergence of the bearish channel on an hourly chart. Today the Euro has stabilised; therefore, the pair is gradually moving in the direction of the upper trend-line. It is possible that the bloc's currency will try to cross this important level.

Wed, 07 Jan 2015 07:12:19 GMT

EUR/AUD 1H Chart: Channel Down

An encounter with the resistance at 1.53 in mid-December did not bode well for the bullish momentum of EUR/AUD—since then the Euro has already lost nearly 4.8%. Assuming the currency pair has also formed a bearish channel during the second part of December, the sell-off is likely to persist. This scenario is also confirmed by the four-hour and daily indicators,

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