USD/SGD 4H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SGD has formed several patterns during the last couple of months, including a triangle, descending triangle as well as double bottom, which is moving to its apex. Until U.S. politicians cannot agree on budget, the greenback will continue losing ground versus other currencies. Furthermore, technical indicators on a 4H chart are suggesting weakness of U.S. Dollar as well. Couple of hours ago bears tried to penetrate the support line, and the latest low is already lower than the previous one, meaning a period of consolidation is over and we can expect lower prices. As an alternative scenario, the price may bounce back from current level and try to reach 1.2527.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 16 Oct 2013 07:40:43 GMT

NZD/USD 1H Chart: Channel Up

Following a breach of the moving average for 200 hours NZD/USD has been rising in an orderly manner, namely respecting two parallel trend-lines. Accordingly, the currency pair has formed a bullish channel on an hourly chart with the upper boundary at 0.8440, which is reinforced by the daily R2, and with the lower boundary at 0.8375, which in turn is

Tue, 15 Oct 2013 14:38:47 GMT

XAU/USD 1H Chart: Channel Down

Gold has been depreciating against the greenback since October 4, when the pair inched up from 1,305, reached 61.80% Fibonacci retracement and began channelling down. The pair is currently trading around 1,272, more than 600 pips above the pattern's resistance line. Meanwhile, almost 70% of traders are holding long positions, while indicators on a hourly chart are sending "buy" signals.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.