AUD/NZD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Australian Dollar is quickly approaching the upper edge of the bearish pattern, which implies the sell-off is likely to resume in the short term. From bullish perspective, the level of difficulty is rising around the upper boundary of the pattern, which is reinforced by the weekly pivot point and daily R1 at 1.1060. In case the pair succeeds in closing above this crucial supply, the next one will be placed as high as 1.1143 (200-hour SMA; daily R2), followed by the weekly R2 at 1.1415. However, four-hour technical indicators are less optimistic with respect to the bullish scenario, as they are mostly mixed at the moment. In addition, bears (53%) have only a slight advantage over bulls (47%).

© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 24 Aug 2015 14:33:11 GMT

EUR/PLN 4H Chart: Broadening Rising Wedge

The EUR/PLN currency pair is reaching new highs within the boundaries of the broadening rising wedge pattern. The last important resistance to cross was represented by the monthly R1 at 4.2375. Judging by the signals from the majority of technical indicators, the single European currency is going to outperform further, as the pattern's confirmation seems to be inevitable from their

Mon, 24 Aug 2015 06:59:04 GMT

GBP/USD 1H Chart: Channel Up

The British Pound is in a good position to advance against the US Dollar. First, GBP/USD has been fluctuating within the boundaries of a bullish channel for the past two weeks. Secondly, the currency pair is facing a dense cluster of supports around 1.5650. Apart from the trend-line, demand here is also implied by the 200-hour SMA and the weekly

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.