CAD/JPY 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
As it is the US Election Day, and Trump and Hillary go head to toe in a battle for the presidency of the United States, that is all which is going to affect the markets today and in the next few trading sessions. Due to that a few interesting cases of trends are being looked at during today. First is the CAD/JPY currency exchange rate, which trades in a large scale descending channel pattern. In addition, the rate was falling after bouncing off the larger channel's resistance in another falling channel. However, the medium term channel was broken, as the FBI director made his last announcement. It is recommended by our team to look at this rate after the election, as it is likely to remain in the large scale channel's borders.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 08 Nov 2016 16:07:32 GMT

NZD/USD 4H Chart: Ascending Channel

The Kiwi, surprisingly, is the currency, which ignores the US presidential election. For example, the NZD/USD currency exchange rate continued to trade in the previously set medium term pattern, which it formed as a result of rebound of the long term ascending channel pattern's support line in the middle of October. Most recently, the currency pair reached the medium term

Tue, 08 Nov 2016 07:55:13 GMT

USD/ZAR 4Hour Chart: Channel Down

Led by a channel down pattern, USD/ZAR came across 13.3543 which failed to give access to levels underneath, suggesting that the current downtrend might be losing momentum and a reversal could be on the way. A close above the upper trend-line at 13.5298 would likely result in a tap at 13.5957/6191 before a correction of the broken area. The surge

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.