EUR/SGD 1H Chart: Rising Wedge

Source: Dukascopy Bank SA
Following an apparent double top formation, EUR/SGD posted a gap, but still managed to accomplish what it had intended, namely – a reversal of the previously prevailing bear market. The cross is currently moving towards areas tackled in 2016, but has sketched a rising wedge on the hourly chart which now suggests that some downside risks are to take over at least in the short term. The pair is approaching the bottom trend-line around 1.5211 and a break below the area would lead to 1.5199 for a retracement which would initiate a stronger movement south.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 02 May 2017 07:23:14 GMT

GBP/NZD 1D Chart: Double Bottom

GBP/NZD confirmed the double bottom it has set at an all-time low of 1.6772 with a strong break above the neck-line located at 1.7982, and has been rising ever since. The pair has now posted two red candles after five green ones, suggesting that while the uptrend is still intact, a wave south is now taking place. Support lies below

Tue, 02 May 2017 07:21:17 GMT

EUR/CAD 1H Chart: Rising Wedge

The two-year low set late February proved unsustainable and led to a solid rise over the last couple of months. The pair has now, however, shifted its stance in favour of a bearish development, as indicated by the rising wedge on the hourly time-frame which appears to be mature enough to break rather soon. A dip beneath 1.4914/09 would lead

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.