NZD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/USD is apparently forming a downward-sloping channel, meaning the general outlook is bearish. If the New Zealand Dollar starts to recover, which may well be the case since the Kiwi is now facing support at 0.7230 (weekly S1 and monthly S2), the rally should be stopped by the upper boundary of the pattern at 0.7350. The target is the lower trend-line at 0.7065. However, with every new red bar short bets are becoming more and more risky, being that the price is closing in on the major demand areas. The closest is around 0.7180, represented by the March and February lows. This zone is followed by the 2011 low at 0.7119.
© Dukascopy Bank SA
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Thu, 28 May 2015 07:03:04 GMT

GBP/USD 4H Chart: Channel Down

As mentioned in the previous report, GBP/USD has recently broken out of the bullish channel. However, the upward momentum may still be alive, being that the 200-period SMA remains intact, and the technical indicators are mixed. Regardless, the short-term bias is to the upside. The exchange rate is expected to rebound from 1.53, but the surge is unlikely to extend

Wed, 27 May 2015 13:55:04 GMT

EUR/CAD 4H Chart: Double Top

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