CAD/HKD 4H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Loonie is depreciating against the Hong Kong Dollar in a falling wedge pattern, as the currency exchange rate is moving lower from one trend line to another in the borders of a larger pattern. The larger pattern is a channel down, which has been dictating the rates movement since the start of May. Moreover, the Fibonacci retracement levels between the January low and the May high levels influence the currency exchange rate. In the recent months the currency pair has been crossing paths with the 23.60% and 38.20% Fibonacci retracement levels respectively at 6.0145 and 5.8823. In the meantime, SWFX trader sentiment indicates at the rate being overbought, as 74% of open positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 12 Oct 2016 08:17:20 GMT

USD/CHF 30 M Chart: Channel Up

A distinct uptrend led the movements of USD/CHF since the beginning of September, adding a bound from the upside to create an ascending channel over the last week or so. Currently consolidating, it appears that the pair is about to tap at the top trend-line at 0.9902 once more in an attempt to break through, however, we look for it

Tue, 11 Oct 2016 11:32:03 GMT

EUR/SEK 4H Chart: Channel Up

The common European currency is simultaneously in two ascending l patterns against the Swedish Krona. The smaller pattern, which is a broadening ascending wedge is a representation of the currency exchange rates rebound from the larger patterns lower trend line. Most recently the currency pair reached the short term patterns upper trend line in a sudden surge from 9.6477 to

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.