AUD/CHF 4H Chart: Descending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Statistically, descending triangles are penetrated to the downside in 64% of the time. As always, the breakout is confirmed by a spike in volatility. Mario Draghi's decision to cut rates pushed the pair lower and keeping in mind the event will have a long-term impact on the Euro, a move below the lower trend line is widely anticipated. Additionally, aggregate technical indicators are sending ‘sell' signals unanimously at three different timeframes. A move below 1.4569 will clear the way for weekly S2 at 1.4479, while the key level is still placed at November 20 low, around 1.4319.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 05 Jun 2014 14:35:05 GMT

GBP/AUD 1H Chart: Triangle

It seems GBP/AUD has finally escaped the boundaries implied by the symmetrical triangle. The currency pair has broken out to the downside and immediately has reached the first target at 1.80, represented by the Jun 4 low and daily S1. Accordingly, we may now expect a small retracement from this support back to the up-trend at 1.8020. However, subsequently the

Thu, 05 Jun 2014 13:51:04 GMT

EUR/GBP 4H Chart: Channel Down

We simply cannot omit the ECB decision to trim interest rates, that provoked a massive sell-off of the single currency, leading to major movements to the downside in all Euro crosses. The EUR/GBP pair touched the upper trend line on June 4– a perfect timing to open a short position. Market sentiment is slightly bullish, as 55% of opened positions

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.