EUR/USD 4H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The shared currency began with its latest downward trend versus the Greenback during the second week of October. However, after reaching this year's low at 1.2358, the Euro stabilized, which led to formation of the double bottom pattern. The pair is currently capped by the long-term downtrend, which is strengthened both by 200-period SMA and weekly R1. Therefore, we expect the currency to consolidate towards 1.23. Despite a strong demand area just above this level (weekly and monthly R1), technical studies forecast the pair to set a new  annual minimum in course of December. Market sentiment, in turn, is completely undecided (50% longs / 50% shorts).
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 03 Dec 2014 10:08:14 GMT

USD/ZAR 1H Chart: Broadening Rising Wedge

On 21st of November USD/ZAR started to recover from recent down-trend and by doing that the pair has formed a broadening rising wedge pattern. Currently, the Greenback is moving closer to the pattern's resistance line at 11.1950. Meaning that the upper trend-line is likely to be challenged, also the hourly technical indicators are mostly bullish. However, the SWFX traders' do share

Tue, 02 Dec 2014 14:07:05 GMT

GBP/AUD 1H Chart: Channel Up

Despite the fact that the pair was not able to breach the pattern's support, it decided to trade around this level for a continuous period of time. At the moment the pair is trying to make the next attempt to bounce from the trend-line. Taking into account bullish technical indicators on a short-term time-frame, we assume the pair will succeed. However,

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.