EUR/NZD 1H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The EUR/NZD currency pair has formed a high-quality and magnitude double top pattern on a short-term chart. At the moment we are observing the single currency trading to the south in the direction of pattern's support line at 1.5775. If it manages do reach this level and bounce back to the upside, we will most likely see a formation of the triple top or rectangle pattern. However, at first the pair will have to cross the weekly pivot point at 1.5798. According to market participants' opinion (74% of all positions are short), the pair will breach the pattern's support and decline further, while technical indicators do not give any clear signal for the short-term movement.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 18 Sep 2014 12:42:04 GMT

USD/ZAR 1H Chart: Channel Up

The South African Rand has been declining against U.S. Dollar since first days of September. As a result, the pair formed a bullish channel on a hourly chart. Despite crossing the upper boundary of the pattern for several times, the U.S. currency managed to consolidate inside boundaries of the channel up. Right now the pair is trading around daily pivot

Thu, 18 Sep 2014 07:48:37 GMT

NZD/USD 4H Chart: Broadening Falling Wedge

The pair failed to strengthen above the 0.85 mark on 14th of August and since then it has lost around 400 pips, meanwhile forming a broadening falling wedge pattern. At the moment, NZD/USD is trading around the lower trend-line, which is represented by monthly S1 at 0.8083. Additionally, that is indicating on a higher probability of a bearish break-out, as

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.