EUR/AUD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common European currency trades in a descending channel pattern against the Australian Dollar, as the rate approaches the lower trend line of a long term descending channel pattern. The pair is set to meet the lower trend line of the before mentioned pattern during the next week. The main aspect to be analyzed is the point of the reversal of the direction, as afterwards the currency exchange rate is set to rebound and move higher. The market sentiment of the SWFX gives clues regarding that, as 73% of trader open positons are long, which indicates at the pair actually being overbought. Due to that reason, it can be assumed that market participants can take advantage of the decline occurring at the moment.
© Dukascopy Bank SA
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Thu, 23 Feb 2017 08:41:17 GMT

CAD/CHF 1H Chart: Channel Up

Following an unsuccessful attack at the one and a half year high of 77.55, which has been tested multiple times during the period and therefore gained a lot of relevance, CAD/CHF slipped to then try and launch another attack with the help of an ascending channel. The pair is currently on its way north and has been having some trouble

Wed, 22 Feb 2017 13:59:54 GMT

AUD/CHF 4H Chart: Channel Up

Although the Australian Dollar trades against the Swiss Franc simultaneously in three ascending channel patterns, the currency exchange rate is about to begin a decline. The reason for that is the fact that the pair recently hit the combined resistance of a cluster of levels of significance, which is made up of the upper trend lines of the three patterns.

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