USD/PLN 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
A descending channel led USD/PLN away from two-month highs of 4.0965 and has stuck around since, suggesting that bears are likely to extend the gains if the current tests of the upper boundary are unsuccessful. There is, however, quite a chance that the pair might break out of the pattern immediately and we will look for it to start a steep rally after the area is corrected. There are several deviations of the channel trend-lines, but most of them show that the area has been surpassed already and that 3.9315 could become the next target. The boundary area is strengthened by a cloud resistance and could therefore require a longer retracement. Immediate support, however, lies at 3.9063 and will come into play if the pair starts its track to 3.8493, the bottom trend-line.
© Dukascopy Bank SA
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Wed, 29 Mar 2017 06:35:14 GMT

USD/SGD 1H Chart: Channel Down

After USD/SGD broke the neckline of a head and shoulders formation and confirmed the downtrend by sketching a bearish channel on the daily chart, another one emerged on the hourly chart to serve the purpose of leading the pair to the lower trend-line at 1.3925. The rate has already completed the motion and slightly broken the channel to the upside,

Tue, 28 Mar 2017 14:33:51 GMT

AUD/NZD 4H Chart: Channel Down

The two neighboring currencies, the Australian Dollar and the New Zealand Dollar have recently changed the course of their exchange rate. The Ausie is no longer trading an ascending channel pattern against the Kiwi, as the recent channel down pattern managed to break free of the dominant trend. The rate is most likely going to reach the 50.00% Fibonacci retracement

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