GBP/CAD 1H Chart: Descending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Pound/Loonie currency pair formed a rather narrow descending triangle pattern on an hourly chart, while for the time being it is approaching a point of eventual break-out. Historically, they happen to the downside in 64% of all times, and we have already seen the British currency touching the lower-trend line some time ago. We tend to believe in cross's future movement to the downside, especially taking into account rather pessimistic medium-term technical indicators. Long-term ones, however, expect the pair to gain value in the future. Market participants support the case of going to the south, as more than 66% of them are holding short positions at the moment.
© Dukascopy Bank SA
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Tue, 30 Sep 2014 13:03:04 GMT

EUR/SGD 4H Chart: Channel Down

The present currency cross has been in a decline since the end of July, as it managed to cover 246 bars since that time. During last couple of hours only, the single currency lost around 90 points and is likely to continue hovering to the south. At the moment we do not see any major barriers for the pair to

Tue, 30 Sep 2014 08:08:09 GMT

CHF/SGD 4H Chart: Channel Down

The CHF/SGD cross has been on a down-trend since early March; although, more recently it managed to form a bearish channel that now is 304-bar long. Since early September, CHF/SGD has not touched the tunnel's limits, the pair has been swinging in relatively narrow range. Moreover, for a couple of weeks it seems that the pair is targeting the lower trend-line.

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