USD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A dive to a three-month low of 1.0813 in the very beginning of May gave USD/CAD an impulse for a jump. However, a two-week rally now may be halted given that the instrument has recently broken the support of the 57-bar long channel up pattern. If the breakout appears real , the pair is likely to plunge to the 50-hour SMA at 1.0906 and then to 1.0903/898 (four-hour S1, S2), a decline beneath which will open the way towards a strong support level at 1.0892/0 (daily S1; 200-hour SMA; four-hour S3). At the same time, market sentiment is neutral, while technical numbers are pointing to a weakness in the short and long term but are sending a clear ‘buy' signal for the medium term.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 22 May 2014 06:58:00 GMT

AUD/JPY 1H Chart: Channel Down

The Australian Dollar was trading close to a one-year high against the Japanese Yen during more than a month ended early May when the pair slid into a channel down pattern. Despite being a subject to a heavy selling pressure, AUD/JPY demonstrated unwillingness to plunge below a two-month low of 93.05 hit on May 21. A stab to this low provoked

Thu, 22 May 2014 06:48:16 GMT

NZD/USD 1H Chart: Channel Down

NZD/USD followed a lost-lasting bearish trend after it reached a three-year high of 0.8780 early May. The currency pair entered a downward sloping tunnel that took the instrument to a one-month low 0.8539 in the second part of May. Now the pair is on the verge of penetrating the upper limit of the corridor that may lead to a breakout followed

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.