EUR/GBP 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since mid-March, the single European currency has been gradually losing value versus the British Pound and on Jun 26 the pair entered one of the several bearish patterns it formed throughout its slide. The formation represents a 237-bar long channel down pattern with average quality but high magnitude.
Now the currency couple is headed towards the upper limit of the pattern since it got a strong bullish impetus after a drop to a two-year low of 0.7915 early July. However, the SWFX numbers warn the upside is likely to end soon – more than 71% of all orders are placed to sell the pair.
© Dukascopy Bank SA
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Mon, 14 Jul 2014 07:10:18 GMT

CAD/JPY 1H Chart: Channel Down

A one-week long retreat of CAD/JPY started at a seven-month high of 96.23 reached in the very beginning of July. Recently, the currency pair has touched a three-week low of 94.30 that lies slightly below the lower boundary of the corridor. However, at the moment, the instrument is trading within the pattern's trend-line, albeit it is still sitting very close

Fri, 11 Jul 2014 13:35:08 GMT

EUR/JPY 4H Chart: Falling Wedge

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