USD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A dive to a 10-month low of 1.0620 in the very beginning of July provoked a long-lasting appreciation of the greenback versus the loonie performed within the area bounded by two parallel upward-sloping lines.
The pair now is located near the lower trend-line and may remain there as the 50-hour SMA at 1.0739 is blocking the upswing, while the pattern's support is preventing the pair from a bearish exit. Meanwhile, traders' sentiment on the SWFX is almost neutral – 53% of positions are long, while 47% are short. Furthermore, technical indicators send a clear signal only for long-term, pointing to a possible climb in one-day perspective.
© Dukascopy Bank SA
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Tue, 22 Jul 2014 06:13:11 GMT

EUR/USD 1H Chart: Channel Down

The most popular currency pair, EUR/USD, has been in a sharp down-trend since mid-July and on Jul 18 the instrument hit a five-month low of 1.3492 located at the lower limit of the 136-bar long channel down pattern. After bottoming out at the this low, the pair managed to pare losses and now is fluctuating near the short-term SMA at

Mon, 21 Jul 2014 11:14:48 GMT

EUR/SGD 4H Chart: Channel Down

During the last 130 trading days the Euro index lost 2.34%, with single currency losing ground versus almost all major currencies, including the Singapore Dollar. A 362-bar long channel down is a clear indication of the strong downside movement, while aggregate technical indicators on a 4H and weekly chart are suggesting the pair will continue its movement to the south.

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