CAD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
CAD/JPY has formed a channel pattern on October 8 and even despite a false breakout last Friday, the pair is still moving in pattern's boundaries. On Tuesday the price shot to the north and it seems a correction is needed. This idea is supported by aggregate technical indicators on 4H and daily charts, meaning that a retest of the support line is expected. The first major support level, however, is located at 94.807, represented by a Fibonacci retracement, which in case is breached open a space of depreciation up to the pattern's support and even a 200-hour SMA. a release of a weaker-than-expected manufacturing data from Canada, pushed the pair higher.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 16 Oct 2013 14:06:35 GMT

EUR/USD 4H Chart: Channel Up

Pair has been appreciating since the beginning of July. Five months prior to that it was trading in an almost 700 pip range between 1.345 and 1.275. At the moment it is moving towards the pattern's support. Although we see bullish periods, it seems that some bears are just capitalizing on their gains and, as suggested by the short term

Wed, 16 Oct 2013 13:25:22 GMT

USD/TRY 1H Chart: Channel Down

During the last two weeks the U.S. Dollar has been loosing ground versus major peers, including the Turkish Lira. The pair has even formed a channel down pattern, which is likely to be in place in the foreseeable future. The pair is currently fluctuating around pattern's resistance, however, the upside breakout is unlikely to happen, as indicators on hourly and

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.