GBP/USD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the last week of December, the Cable has been trading within a narrow but at the same time solid channel. Being that the studies are either bearish or mixed and the Sterling is overbought (63% of positions are long), there are no reasons to expect a reversal but one—the price is at the 2010 low. However, the initial reaction after the test of the historically important level was shallow, meaning demand near 1.4230 is unlikely to be enough to stop the sell-off, and the near-term rallies should be capped by the monthly S2 and the falling trend-line at 1.4390/70. Below 1.4230, the currency pair should aim for support at 1.4050, followed by the 2009 low at 1.35 dollars.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 19 Jan 2016 14:17:58 GMT

EUR/AUD 1H Chart: Channel Up

Since the medium-term expectation for the EUR/AUD cross is generally positive, we expect it to bounce off the pattern's lower trend-line in the nearest future. It should be supported by the 200-hour SMA at 1.5632 and 4H technical indicators. Alongside, a moderate majority (55%) of SWFX open positions are bullish with respect to the European single currency. A recovery should

Tue, 19 Jan 2016 07:29:42 GMT

EUR/GBP 1H Chart: Channel Up

The British Pound is weakening across the board, giving the Euro a good opportunity to outperform it. The main reason to be bullish the common currency, however, is the fact that the pair has recently established an ascending channel, and at the moment it is near the lower boundary of the pattern. In addition, the four-hour indicators are giving ‘buy'

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.