CAD/JPY 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
At the moment CAD/JPY appears to be trading within the boundaries of a bearish channel. However, the slope of the trend-lines forming the pattern is still unreliable and may be subject to change in the future. The base case scenario is a rally from the current trading levels to 95.40/30, where the currency pair will meet the resistance trend-line and accordingly make a U-turn. Subsequent sell-off will presumably extend to a cluster of supports at 94.20/00. Meanwhile, the sentiment among the SWFX market participants is strongly bearish, as 74% of open positions are currently short the Canadian Dollar. Moreover, most of the technicals on the shorter time-frames are pointing south.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 16 Mar 2015 08:56:04 GMT

AUD/SGD 1D Chart: Channel Down

The Australian Dollar is a sell at the moment. First, AUD/SGD has formed a well-defined bearish channel during the last 10 months. Second, the currency pair is trading next to the long-term trend-line at 1.07, reinforced by the weekly R1 and some of the recent highs. However, 73% of open positions are short, meaning the Aussie may be already oversold.Meanwhile,

Mon, 16 Mar 2015 07:33:04 GMT

USD/NOK 1H Chart: Channel Up

A rally that eventually evolved into a bullish channel was facilitated by a strong demand area near 7.50. However, the recovery is now facing meaningful downside risks, as resistance at 8.2484 is not willing to let USD/NOK to move further north. If the support trend-line at 8.1867 gives in before the Mar 12 high, the outlook will be changed from

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.