CAD/JPY 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Canadian Dollar has been largely underperforming the Japanese Yen since the beginning of the year, but now there is a good reversal signal—a falling wedge. The currency pair has just closed above the down-trend, meaning there is a high possibility of a rally in the nearest future. The initial target is the Jan 22 high at 96, there it merges with the weekly PP, followed by the 200-hour SMA at 97 and the Jan 20 high at 99. As for the technical indicators, hourly and four-hour studies give ‘sell' signals. At the same time, 68% of traders hold loonie-short positions, expecting the Canadian currency to lose even more value.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 26 Jan 2015 14:18:05 GMT

GBP/CAD 1H Chart: Channel Up

A strong appreciation of the Sterling began on January 16, when the present pattern started emerging as well. Nevertheless, now it seems that the pair lacks bullish momentum and has a chance of a fall in the foreseeable future. At first, the pair is still unable to get enough support from daily R1 and pattern's support in order to increase

Mon, 26 Jan 2015 07:50:55 GMT

EUR/NZD 1H Chart: Channel Up

EUR/NZD seems to have bottomed out at 1.48 following a strong sell-off from 1.62 since mid-December. Now the pair has to respect the boundaries of the bullish channel it has formed, though the lower rising trend-line of the pattern still appears to be unreliable. At the moment the Euro is facing the resistance at 1.51 represented by the weekly pivot

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.