AUD/CAD 4H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CAD is likely to remain bullish until the end of this week, but eventually the bearish mood should prevail. The pair is currently forming a rising wedge, a pattern that portends a sell-off, once the lower bound of the figure is breached. The target will then be the May low at 0.9330. At the moment, this key support is at 0.9480, but considering that the up-trend is reinforced by the weekly and monthly PPs and that the rate is still far away from the apex, near-term positive outlook until the 38.2% retracement of the Apr 18—May 26 down-move is warranted. Meanwhile, the immediate ceiling is the 200-period SMA, and it may take some time before the price breaks this resistance.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 08 Jun 2016 06:45:50 GMT

EUR/TRY 1H Chart: Channel Up

There is a high-quality channel emerging in the hourly chart of EUR/TRY. According to the pattern, the exchange rate should rebound from 3.29 and rise up to the solid 3.3150/80 resistance area during the next several days. Looking further into the future, the pair is likely to have trouble once it comes into contact with the five-week down-trend, which is

Tue, 07 Jun 2016 14:14:54 GMT

GBP/CAD 1H Chart: Channel Down

The Pound started a channel down against the Canadian Dollar on May 31, and the pair has bounced off of the borders of the pattern already three times. The 116-bar long channel has relatively high quality and magnitude parameters: 71 and 83% respectively. At the moment, the exchange rate is in an upward motion and is struggling with the first

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.