EUR/CHF 4H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Extension of the Euro's recovery from 1.0870 is unlikely. Even though the four-hour and daily technical indicators are mostly pointing north, the currency pair has formed a double top, a pattern that suggests a heightened risk of a sell-off. Still, the bearish scenario will not be confirmed as long as support at 1.0969/64 remains intact. Once the neck-line is broken, 1.0930/21 (monthly PP and 200-period SMA) are to become the next point of destination. An additional demand area is at 1.0870/60, created for the most part by the nine-month up-trend. As for the SWFX traders, they appear to be undecided with respect to the Euro's prospects: 45% of open positions are long and 55% are short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 28 Apr 2016 13:48:13 GMT

GBP/AUD 1H Chart: Channel Up

On the basis of the 1H chart, the outlook for the Sterling against the Australian Dollar is bullish. The daily pivot point is in power to provide some local support to the British currency, while the 55-hour SMA is rapidly nearing the spot at 1.9039. Both are offering bid above the pattern's lower boundary and weekly R2, meaning a plunge

Thu, 28 Apr 2016 06:48:28 GMT

GBP/USD 1H Chart: Channel Up

The near-term outlook is bullish. A case of a decent rebound implied by the fact that GBP/USD is testing the lower boundary of the ascending channel is hardened by the four-hour and daily technical indicators. The main near-term challenge is a cluster of resistances between 1.4670 and 1.4670, consisting of the weekly R2 and the April and March highs. There

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.