AUD/CAD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CAD has been bullish since the very beginning of November, and considering that the pair has already surpassed the March high, the recovery is expected to continue, and the target is this year's maximum at 1.0090. Additional argument in favour of the bullish outlook is sentiment: 72% of open positions are short. In the near term, however, we are likely to see a sell-off, as the price has just encountered the upper boundary of the channel. The losses are to be limited by the rising support line at 0.9800/0.9792. But if this is not the case, and the rate dips lower, the focus should shift to supports at 0.9586 (November 27 low) and 0.9550 (monthly PP and 200-period SMA).
© Dukascopy Bank SA
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Thu, 10 Dec 2015 07:47:06 GMT

NZD/CAD 4H Chart: Channel Up

The situation in NZD/CAD bears an uncanny resemblance to the one observed in AUD/CAD. Here, also, the overall outlook is bullish, while in the short run there is likely to be a correction. The decline is expected to end near the rising trend-line at 0.9040, whereas in the long run the price could be aiming for the March high, being

Wed, 09 Dec 2015 14:20:13 GMT

GBP/USD 4H Chart: Channel Down

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