USD/SEK 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A sharp retreat that was observable after USD/SEK touched a four-month high in the second part of November allowed the pair to accumulate strength for a rebound. USD/SEK started to recover losses in early December when it commenced a formation of the rising wedge pattern.  
Now the pair is trading slightly below its daily pivot point at 6.5426 and is likely to advance before long given a recent ‘golden cross' and a strong bullish sentiment on the market (75% of all orders are placed to buy the pair). Furthermore, technical indicators support this view, sending bullish signals for short and medium terms.
© Dukascopy Bank SA
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Wed, 11 Dec 2013 07:53:49 GMT

GBP/USD 1H Chart: Double Top

A double top pattern formed by GBP/USD on November 25 represents a part of the upward trend the pair followed after it tumbled to a two-month low in mid-November. The pattern is 251-bar long and has both quality and magnitude above average. The pair has already performed two consecutive jumps within the pattern, with the second peak being at a

Wed, 11 Dec 2013 07:53:25 GMT

USD/JPY 1H Chart: Rising Wedge

A rise to a seven-month high in the very beginning of December incited a dive below the 50-hour SMA that created a foundation of the rising wedge pattern started on December 3. At the moment of writing, USD/JPY has just come back to the pattern's boundaries thanks to the support provided by the 200-hour SMA that prevented a sharp decline

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