USD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
While there is a high possibility of a sell-off in the near future, the overall outlook on USD/CAD is bullish. The pair has recently come into contact with the upper boundary of the channel it has been forming since the last week of December. Accordingly, we expect a decline down to 1.43 before another wave. There demand is implied by the lower edge of the pattern and the weekly R1 level. However, if the rate shoots through 1.4450, the focus will shift to the next weekly pivot point near 1.4650. In the meantime, even though the technical indicators are mixed, the sentiment in the market is distinctly bearish, meaning the US Dollar is current oversold, despite being in the up-trend.
© Dukascopy Bank SA
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Fri, 15 Jan 2016 07:45:06 GMT

EUR/AUD 4H Chart: Channel Up

The channel emerging in the four-hour chart of EUR/AUD is still of low quality, but our attention was also drawn by the ascending triangle forming between the parallel trend-lines. Judging by the situation, there is likely to be a rally from 1.5570 up to the red trend-line, but after the test the bears should gain control of the pair and

Thu, 14 Jan 2016 14:37:02 GMT

AUD/CHF 4H Chart: Channel Down

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