XAG/USD 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a strong rally early this month the price got stuck at 16.10 dollars. However, there are plenty of positive signals for the bulls. First, formation of an ascending triangle indicates that demand is building up. Secondly, there are more ‘buy' signals than ‘sell' ones in the four-hour and daily time-frames. Additionally, we have a strong support area between 15.90 and 15.70, created by the rising trend-line, weekly pivot point and 200-hour SMA. Accordingly, the base scenario is a rally through 16.10 in the nearest future. In this case the first target will be the weekly R1 at 16.30, followed by the June 17 high at 16.50. Meanwhile, 74% of open positions in the SWFX market are long.
© Dukascopy Bank SA
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Wed, 14 Oct 2015 14:46:09 GMT

EUR/SEK 1H Chart: Channel Down

On the face of it the outlook should be bearish, as the currency pair trades within the boundaries of a downward-sloping channel, and the spot price is at the upper boundary of the pattern. However, this is misleading, since EUR/USD is currently facing a support trend-line that connects troughs since August. Consequently, there is a considerably higher chance of a

Wed, 14 Oct 2015 05:46:11 GMT

EUR/AUD 1H Chart: Channel Down

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