EUR/JPY 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A short, only 55-bar long, channel down pattern is now being formed by EUR/JPY. The formation is notably tilted downwards thus prompting the pair to extend its losses. For example, recently the pair has attained a three-month low of 138.97.
Now the instrument is retreating after a short-lived advance to the upper-limit; this may sent the pair again to the recent low. Market sentiment also is slightly bearish, with over 55% of traders holding short positions. Meanwhile, technical indicators are sending ‘sell' signal for the medium-term and are neutral for short and long terms.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 16 May 2014 06:40:31 GMT

USD/HKD 1H Chart: Double Bottom

The U.S. Dollar has been weak compared to its Asian counterpart since mid-March. One of the bearish formations that developed throughout this slide is double bottom pattern. The pattern originated early May and now is almost 180-bar long. After a stab to a seven-month low of 7.7515, USD/HKD has been moving towards the neck-line at 7.7525. However, there are a

Fri, 16 May 2014 06:40:20 GMT

AUD/NZD 4H Chart: Channel Up

Again we see the same pair but another formation. This time it is AUD/NZD that formed a 262-bar long channel up pattern on the four-hour chart. At the moment, the pair is trading in approximately equal distance from both trend-lines. In particular, the instrument is sitting slightly above its short- and long-term SMAs meandering at 1.0814. Given that the 50-bar SMA

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.