CAD/HKD 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Canadian Dollar recently broke out of a large scale but rather week ascending channel against the Hong Kong Dollar. The breakout occurred in a small scale falling wedge pattern on the hourly chart. In the moment of the breakout the currency exchange rate fell sharply until it encountered a strong support cluster. The support cluster was made up of the wedge's lower trend line and a 50.00% Fibonacci retracement level at 5.7775 mark. The Fibonacci retracement levels on this pair are measured by connecting the 2016 low and high levels. However, by analyzing the history of the pair it can be seen that only the 50.00% Fibonacci retracement level is significant enough to hold or change the movement of the pair.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 22 Dec 2016 09:56:30 GMT

USD/PLN 1H Chart: Broadening Descending Wedge

The US Dollar trades against the Polish Zloty in an unordinary way. However, it is still possible to map and forecast the currency exchange rates movements. On a larger scale the pair is in a rising wedge, and recently the rate hit the wedge's upper trend line and formed a new medium term pattern. The medium term pattern is a

Wed, 21 Dec 2016 16:06:03 GMT

EUR/USD 1H Chart: Channel Up

The Euro is surging against the Greenback in a short term ascending channel. Meanwhile, the rate is also simultaneously trading in two descending channels. The short term channel up pattern is a representation of the rates rebound from the medium term descending pattern's support line, and the medium term channel is such a type of rebound from the large scale

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.