USD/SEK 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SEK appears to be forming a bearish channel. This implies that the US Dollar is capped by the down-trend at 8.2750 and that the currency will target the lower boundary of the pattern at 8.1434, where we also have August's low. Even if the price closes above the red trend-line the bearish outlook will still not be invalidated. First, there is the 200-hour SMA at 8.2923. Secondly, and even more importantly, there is the down-trend line that connects Aug 7 and Sep 9 highs. However, the SWFX traders seem to reckon that USD/SEK is oversold and are thus strongly bullish, being that 71% of them prefer to be long the Greenback against the Swedish Krona.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 21 Sep 2015 07:58:04 GMT

AUD/SGD 1D Chart: Channel Down

During the last 18 months AUD/SGD has been trading in a bearish channel, meaning the recent recovery is unlikely to extend much higher. While in the near term the Aussie could climb over the immediate resistance at 1.0133, represented by the monthly PP, the falling trend-line at 1.02 is expected to remain intact. Additional strong supply area is at 1.04,

Mon, 21 Sep 2015 07:25:26 GMT

XAU/USD 1H Chart: Channel Up

Gold became more expensive last week, and, considering that the price has formed a bullish channel, this tendency is likely to continue. In the short term we may expect a modest downward correction, but the losses are expected to be limited by the up-trend and daily S1 at 1,131. If not, there is likely to be a considerably deeper decline,

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.