EUR/NZD 4H Chart: Channel Up

Source: Dukascopy Bank SA
The common European currency trades against the New Zealand Dollar in an ascending channel pattern for the medium term. However, on a larger scale the pair has also formed another channel up pattern. The rate recently bounced off the upper trend line of the dominant channel. Due to that reason a breaking of the medium scale channel is to be expected. Although, the currency exchange rate is supported by the 55-period SMA, which is located at the 1.5660 level and is pushing the pair higher. The break of the channel will occur as soon as the SMA will be passed. Until then traders should observe the situation.
© Dukascopy Bank SA
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Wed, 29 Mar 2017 12:24:31 GMT

USD/CNH 1H Chart: Channel Up

Although the title states that the US Dollar is in an ascending channel against the Chinese Yuan, the pattern has already been broken. It has been broken due to the influence of a larger pattern. On a larger scale the currency exchange rate is fluctuating in a descending triangle pattern. The channel is just a representation of the latest surge

Wed, 29 Mar 2017 06:35:14 GMT

USD/SGD 1H Chart: Channel Down

After USD/SGD broke the neckline of a head and shoulders formation and confirmed the downtrend by sketching a bearish channel on the daily chart, another one emerged on the hourly chart to serve the purpose of leading the pair to the lower trend-line at 1.3925. The rate has already completed the motion and slightly broken the channel to the upside,

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