HKD/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Hong Kong Dollar is trading in a descending channel pattern against the Japanese Yen. The interesting fact is that this channel is a result of the pair breaking out of a much steeper medium term descending channel. The breakout occurred due to additional support provided by the 38.20% Fibonacci retracement level, which is located at 14.5390. The Fibonacci retracement levels on this pair are measured by connecting the 2016 high and low levels. Most recently the rate found support in the previous descending channel's resistance line and began a surge. It is most likely that the surge will continue, as the currency pair is already oversold with 73.06% of trader open positions being short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 31 Jan 2017 11:09:12 GMT

USD/MXN 4H Chart: Channel Down

The recent recovery in the Mexican Peso against the US Dollar is represented by a descending channel pattern. However, the pattern is about to become obsolete, as the currency exchange rate has already reached a larger scale ascending channel's lower trend line and rebounded against it. Due to that the Greenback is set to continue its surge against the Mexican

Tue, 31 Jan 2017 09:29:59 GMT

EUR/DKK 1H Chart: Channel Up

Following several alterations of established channel trend-lines, EUR/DKK found some upward sloping bounds in the last few trading sessions. The bottom boundary is strengthened by the 55-hour SMA and was just repeatedly tested instead of the upper one as it was expected. We will now look for a surge towards the top trend-line at 7.4392 with a single obstacle of

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.