USD/NOK 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is surging against the Norwegian Krona simultaneously in two ascending channel's, as one of the channel is a representation of the currency exchange rates rebound against the dominant pattern's lower trend line. The currency pair is set to continue the surge for the next few weeks until it reaches the upper trend line of the dominant pattern. In addition, the Greenback is being provided with support against the Krona by the 38.20% Fibonacci retracement level at 8.4507. The Fibonacci retracement levels for this pair are measured by connecting the 2016 low and high levels. In addition the hypothesis of a surge is strengthened by the fact that the pair is oversold, as 71% of open positions are short.
© Dukascopy Bank SA
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Wed, 08 Mar 2017 13:03:21 GMT

USD/SEK 4H Chart: Channel Up

The Greenback is also surging against the Swedish Krona. However, there is a particular detail regarding the medium term movements of the currency pair. The rates medium term pattern is a result of the rate rebounding against a Fibonacci retracement level not a lower trend line of the dominant pattern. The rate bounced off the 38.20% Fibonacci retracement level, which

Wed, 08 Mar 2017 07:39:48 GMT

GBP/JPY 1H Chart: Falling Wedge

A senior downtrend that GBP/JPY has been interacting with for at least a year already led it south once again, confirming the trend-line once again. The pair has just entered a falling wedge pattern to build up some bullish potential and possibly launch another attack on the senior line. We expect the upper boundary of the pattern to become sticky

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