EUR/CAD 1H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a massive sell-off that occurred earlier this month, EUR/CAD hit a strong support level at 1.4671 that did not allow the Euro to depreciate any further. As a result, there is a possibility the currency pair has formed a double bottom, a pattern that implies a reversal. Accordingly, in case the resistance at 1.4742 is broken, EUR/CAD will have a decent chance to recover all of the recent losses. However, on its way to the Jun 6 high at 1.4956 the rate will have to face a number of fairly tough resistances, such as the one at 1.4793, formed by the daily R2 and 200-hour SMA. On the other hand, the sentiment of the SWFX market is strongly bullish—62% of open positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 17 Jun 2014 07:11:08 GMT

USD/SEK 1H Chart: Channel Down

As USD/SEK failed to cross the Jun 12 high at 6.7082, it was forced to decline. Considering that the currency pair formed a bearish channel, the sell-off is likely to persist. Moreover, most of the hourly and four-hour technical indicators are pointing downwards, hardening the case of further depreciation of the U.S. Dollar.In order to confirm this USD/SEK needs to

Mon, 16 Jun 2014 12:04:09 GMT

AUD/SGD 4H Chart: Channel Up

Despite the upward-sloping channel consisting of only 50 candles and its width being fairly narrow, the trend-line forming it seems to be respected by the market. Accordingly, it is expected that AUD/SGD will rebound from the trend line at 1.1735, reinforced by the weekly PP, and target the weekly R1 and Jun 12 high at 1.1795. If there is still

Subscribe to "Fundamental Analysis" feed

Souscrire
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.