EUR/PLN 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/PLN has formed a well-defined bullish channel, after the currency pair had established a solid support level at 4.37. At the moment, the price is undergoing a downward correction within the pattern, but the decline should halt near the up-trend at 4.41. From there the rate is expected to rebound to 4.45, namely the upper edge of the channel. The overall positive outlook is also reinforced by the hourly and four-hour technical indicators. However, the main challenge for a longer-term recovery is supply at 4.4685, implied by the February high. Meanwhile, the current distribution between the bulls and bears still favours a stronger Euro, as only 30% of positions open in the SWFX market are long.
© Dukascopy Bank SA
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Mon, 09 May 2016 07:56:17 GMT

NZD/USD 1D Chart: Channel Up

NZD/USD has recently broken through a major resistance line and formed an ascending channel. Our outlook on the currency pair is therefore bullish. The New Zealand Dollar is expected to confirm the support up-trend at 0.68 and begin a new wave within the pattern. Under this scenario the rate will surpass the April high and top out near 0.71.Alternatively, in

Mon, 09 May 2016 07:03:01 GMT

EUR/AUD 1H Chart: Channel Up

The Euro has been bullish since the end of the April, and there are good reasons for the currency to appreciate more. From below EUR/AUD is well-supported by the lower boundary of the ascending channel, while the target is the pattern's upper boundary. Accordingly, while the downside is limited by 1.5380, the pair is expected to rise up to 1.5780

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