GBP/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
For the past few trading sessions the Pound has been surging against the Loonie in an ascending channel pattern, which represents the rates surge from a strong support cluster. The support cluster is made up of the lower trend lines of the medium and large scale patterns. On a medium scale the pair was in a falling wedge, which has been broken, and on a large scale the pair is still in a triangle pattern. Most recently the rate hit the resistance line of the triangle. Due to that reason the currency exchange rate is set to form a short term descending pattern in the borders of the triangle. Traders are advised to look for the possible new trend lines via using previous pattern lines, which might still show their strength.
© Dukascopy Bank SA
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Wed, 01 Mar 2017 08:28:06 GMT

USD/CAD 1H Chart: Channel Up

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Tue, 28 Feb 2017 12:43:21 GMT

EUR/NOK 4H Chart: Channel Up

Although the title states that there is an ascending channel pattern, which guides the currency exchange rate, the common European currency is showing signs of an upcoming depreciation against the Norwegian Krona. The reason for that is that the pair has hit the upper trend line of the most dominant descending channel pattern. Due to that the medium term channel

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