EUR/USD reveals channel down

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Tuesday, Dukascopy Analytics spotted a channel down pattern on the EUR/USD hourly candle chart. The pattern appears to have guided the pair down since the September 3 bounce off from the resistance of the 1.1900 level. During Tuesday's morning trading hours, the rate was testing the resistance of the pattern near 1.1830.

If the rate bounced off the resistance line, it would most likely look for support first in the 55 and 100-hour simple moving averages near 1.1815. Afterwards, the rate could find support in the weekly S1 simple pivot point. However, take into account that the pivot point failed to provide support during Monday's trading.

On the other hand, a breaking of the resistance line could result in the rate testing the combined resistance of the weekly simple pivot point and the 200-hour simple moving averages at 1.1836 and 1.1840. Above these levels, the weekly R1 simple pivot point stands at 1.1869.
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Tue, 14 Sep 2021 09:30:20 GMT

GBP/USD tests 1.3880 level

On Tuesday, the GBP/USD currency exchange rate surged and touched the 1.3880 level. The zone above this level has kept the currency pair down throughout September. If the pair manages to break the resistance of the 1.3880 zone, the rate could reach for the resistance of the 1.3900 mark and the weekly R1 simple pivot point at 1.3910. Above these

Tue, 14 Sep 2021 06:15:46 GMT

USD/CAD two scenarios likely

On Monday, the US Dollar declined by 51 pips or 0.40% against the Canadian Dollar. The currency pair breached the 50– hour simple moving average during Monday's trading session.

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