XAU/USD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Considering there is a bearish channel emerging in the hourly chart and the rate is right at the upper boundary of the pattern, gold is well-positioned for a sell-off. This decline could potentially extend down to 1,075 before there is a significant bullish correction within the channel.

Nevertheless, while the four-hour indicators are in favour of such a scenario, there are plenty of counter-arguments. First, there is a solid demand area around 1,090, created by the 200-hour SMA. Secondly, the hourly and daily studies are mostly pointing upwards. If XAU/USD manages to close above 1,095, the price will probably rise up to 1,110 dollars per ounce.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 14 Jan 2016 08:08:55 GMT

GBP/JPY 1H Chart: Falling Wedge

GBP/JPY has been in a strong down-trend for a while now (since December). However, even though still weak but there is a sign that there soon might be a reversal, being that the pair has formed a well-defined falling wedge. The chance of a rebound is also increased by the fact that the price is close to a major support

Wed, 13 Jan 2016 14:27:04 GMT

USD/DKK 4H Chart: Broadening Rising Wedge

After a temporary down-leg USD/DKK is again showing bullish signs, in order to prolong movement between two upward-sloping trend-lines. Despite penetrating all moving average lines in the range of 6.86-6.88, the pair is now facing one more tough resistance represented by the monthly pivot point at 6.9036. Buoyant expectations are guaranteed by all technical indicators, while the strongly oversold status

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.