USD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
We have been observing a strong up-trend since mid-June, and the chances are the US Dollar is going to keep outperforming the Swiss Franc. USD/CHF has just confirmed the lower boundary of the pattern, and the currency pair should reach resistance at 0.9950 before starting a pronounced bearish correction. The initial resistance, however, is at 0.98, represented by the weekly pivot point and monthly R1. A close beneath the Aug 12 low will invalidate the bullish scenario. In this case the first significant support will be at 0.9610 (200-period SMA), followed by the weekly S2 and monthly PP at 0.9560. The sentiment in the market is bearish right now: 69% of open positions are short.
© Dukascopy Bank SA
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Fri, 14 Aug 2015 13:11:17 GMT

EUR/NZD 1H Chart: Channel Up

After five consecutive weeks of mainly sideways trading in the range between 1.6350 and 1.68, the common European currency has eventually decided to establish a positive tendency in the one-hour chart. Bullish chances are also improving, given that the pair has successfully breached a tough supply at 1.69 (weekly R2). Meanwhile, the next weekly resistance at 1.70 has been crossed

Fri, 14 Aug 2015 06:46:11 GMT

GBP/USD 1H Chart: Channel Up

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