USD/CAD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Greenback has just bounced from the lower boundary of the channel up to continue trading in the bullish environment, as pattern's support together with 100-period SMA at 1.1215 used to be too tough support line for pair's bears. Even though in the short-term technical studies predict the USD/CAD currency pair to hover sideways, the long-term development of American currency against the Loonie is going to be positive, as expected by daily and weekly indicators. In order to reach the upper trend-line, USD has to breach a number of considerable resistance levels, including the monthly R1 at 1.1345. Still, market participants believe in pair's strength, as 70% of them hold long positions.
© Dukascopy Bank SA
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Thu, 23 Oct 2014 07:37:54 GMT

EUR/AUD 4H Chart: Channel Up

Several days after a test of the tough support at 1.38 and a subsequent strong rally, the rate of Euro's appreciation moderated, which allowed EUR/AUD to form a gently sloping channel between two reliable trend-lines.Being that the currency pair right now is at the lower boundary of the channel, the outlook is positive both in the short and long terms.

Wed, 22 Oct 2014 14:03:04 GMT

AUD/CAD 1H Chart: Double Top

Australian Dollar formed a high-quality double top pattern, while the pair has a good chance to create a third top. Just recently, the currency bounced from pattern's support or the valley between two tops at 0.9830 and is constantly moving upwards. Short-term technical indicators suggest that the Aussie will continue gaining value against its Canadian counterpart in the nearest future. In

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