GBP/JPY 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The bearish channel in the four-hour chart and the technical indicators imply extension of Sterling's depreciation from 139 yen started at the beginning of September. This is also suggested by the descending triangle emerging in the higher timeframes. However, support at 130 yen still remains intact, meaning we may well see a rally in the near term. If the red trendline is broken, there will likely be a test of 133.75/55 (monthly PP and 200-period SMA), although we should not rule out a more pronounced recovery, up to the major 11-week trendline at 136 yen. Meanwhile, once 130 yen is breached, the long-term target will be the 2012 low at 117.20.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 27 Sep 2016 12:41:04 GMT

EUR/CAD 4H Chart: Channel Up

The break out of the descending channel last week came as a confirmation of a senior monthly channel up at 1.4636, which lacked evidence before. Decent bullish momentum carries EUR/CAD towards the upper trend-line of the channel, setting 1.4902/08 as the near-term resistance target. Grabbing onto demand pressures that stem from the golden cross formation below, a break above this

Tue, 27 Sep 2016 06:40:20 GMT

GBP/AUD 1H Chart: Channel Down

GBP/AUD keeps trading within the channel we identified last Thursday after the pair pierced through a notable level of 1.7270. The latest bearish wave inside the pattern did not reach the lower trendline, however, signalling a potential reversal. Nevertheless, the longer-term technical indicators are mostly pointing downwards, suggesting the resistance at 1.70 is likely to stand its ground. Our current

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.