GBP/USD 4H Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
This falling wedge pattern started to form already at the middle of September, when the Pound restarted its down-trend that initially started on July.
Soon the pair will face the daily and weekly S1s at 1.5541/18 that could potentially halt the decline. However, if it fails to hold the pair's bears then most likely the 1.54 mark will be reached. This pair's traders have very similar sentiment to the EUR/USD pair, as 54.98% of them are bullish on the pair. At the same time there is a possibility of a rebound, if the previously mentioned support levels prove themselves as strong enough level to hold the pair afloat and to push it even higher.
© Dukascopy Bank SA
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Mon, 08 Dec 2014 15:13:07 GMT

AUD/CAD 1H Chart: Channel Down

Even though initially the Australian currency managed to bounce from the lower boundary of the channel down pattern and gained some value, the bearish pressure continued to persist and is still pushing the pair down. At the moment AUD/CAD is hovering back around the lower trend-line. As assumed by four-hour technical indicators, the pair is likely to breach this important support

Mon, 08 Dec 2014 09:30:13 GMT

EUR/USD 1H Chart: Falling Wedge

The selling pressure that has dragged the pair considerably lower compared to a period few weeks ago has also helped to form a falling wedge pattern. The EUR/USD cross is hovering around the lower trend-line of the pattern; moreover, it has dipped below the 1.23 mark. To our mind the Euro is likely to extend its underperformance relative to the US

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