AUD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CAD might have formed a bullish channel, but further advancement is nevertheless questionable. The up-trend started with the help of a strong support level at 0.94; now the Aussie is testing another major level at 0.9750, namely the May high. If this obstacle is surpassed, the next target will be the March peak at 0.9884. At the same time, if the up-trend and weekly R2 at 0.97 are not enough to withstand the selling pressure, the losses are likely to extend down to 0.9525, where the 200-hour SMA coincides with the weekly pivot point. Meanwhile, the SWFX sentiment is distinctly bearish: three out of four open positions are currently short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 05 Aug 2015 06:22:10 GMT

GBP/NZD 1H Chart: Ascending Triangle

GBP/NZD appears to be forming an ascending triangle in the hourly chart, and soon there is going to be a break-out. If the currency pair closes above 2.3834, the initial target will be the July high and weekly R1 at 2.40, and there are enough reasons to believe that the rally will eventually extend up to the 2009 September high

Tue, 04 Aug 2015 14:58:04 GMT

EUR/AUD 4H Chart: Rising Wedge

Euro/Aussie cross has just breached the lower boundary of the rising wedge pattern. Moreover, along with that this currency pair managed to surpass the immediate  bunch of support levels represented by the monthly PP, weekly S1 and 100-period SMA. Consolidation below this area on August 4 will mean considerable losses for the Euro in the mid-term. Bears are likely to

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.