USD/CAD 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although USD/CAD has formed a descending triangle, which usually portends a decline, the risks are skewed to the upside. The reason to be bullish on the pair is the solid demand area at 1.3662/34, created by the most recent lows, monthly S1, and the 10-month up-trend. Accordingly, the price is likely to bounce back to the long-term moving average and February 11 high at 1.4040/16. The next target will be already 1.4690, namely the highest level since January. At the same time, if we see a close under 1.3662/34, this will not immediately invalidate the positive outlook. The bulls will have a good chance to recuperate at 1.32, where we have the 20-month up-trend.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 26 Feb 2016 06:22:07 GMT

USD/TRY 4H Chart: Falling Wedge

USD/TRY has recently pierced through the rising support line and confirmed it, which is a strong ‘sell' signal. Nevertheless, there is still a possibility of a rally next week. The currency pair has formed a falling wedge, meaning that demand is building up. The upside, however, is limited. In case of a close above 2.9350, the first target will be

Thu, 25 Feb 2016 14:21:45 GMT

EUR/CAD 1H Chart: Channel Down

The Euro keeps depreciating against the Loonie after an unsuccessful attack on 1.5920 in the first half of February. Taking into account that this pattern is the sell-off after the second peak in the double top (in the daily chart) reinforces the negative bias. However, we would like to see EUR/CAD closing under the January low (1.4950) first. The next

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.