EUR/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
There are many studies suggesting the Euro is going to keep appreciating versus the New Zealand Dollar. The main bullish argument is emergence of an ascending channel, which implies a rebound from 1.5730. At the same time, the European currency is oversold—73% of positions are short, and the majority of technical indicators is giving ‘buy' signals. Nevertheless, there are plenty of resistances capable of stopping the current rally, meaning we should be careful going long. The immediate supply level at 1.5810 is already quite strong, being represented by the 38.2% retracement of the May 10 - Jul 8 sell-off. The main obstacle for bulls is at 1.5950, however, namely the falling resistance line established in May.
© Dukascopy Bank SA
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Fri, 22 Jul 2016 06:57:03 GMT

USD/CAD 1H Chart: Channel Up

Despite USD/CAD currently trading within the boundaries of the upward-sloping channel, the risks are considered to be skewed to the downside. The currency pair has almost reached a major resistance level 1.3150, which has stopped all attempts of the pair to rise since the beginning of April. This level is also the upper edge of the ascending triangle forming in

Thu, 21 Jul 2016 11:42:04 GMT

GBP/USD 4H Chart: Channel Up

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