NZD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The current pattern was formed as a result of depreciation of the Kiwi against American dollar since the mid-January. This tendency is expected to continue in the foreseeable future, given the fact of US currency's broad strength in course of last couple of months across the board. Bearish sentiment on the New Zealand's currency is supported by technical indicators in both short and long-term, as they are giving confident bearish signals. Moreover, the pair is currently facing a strong resistance represented by the monthly S2 at 0.7471, which will try to hold bulls from pushing the pair upwards. Meanwhile, traders remain rather neutral with respect to the cross (53% bullion vs 47% bearish).
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 28 Jan 2015 07:04:59 GMT

USD/ZAR 4H Chart: Channel Down

USD/ZAR has recently proven there is a dense supply area between 11.75 and 11.80 the pair is currently unable to penetrate. As a result, the US Dollar has been in a down-trend since the mid-December, and the currency is likely to continue to weaken, given that the bearish channel has been formed. However, right now USD/ZAR is undergoing an upward

Tue, 27 Jan 2015 15:08:04 GMT

EUR/TRY 1H Chart: Channel Down

A decline of the Euro against Turkish lira has been already lasting since the very end of December 2014, where the present channel down pattern takes its start. However, after bottoming out just above 2.60 last Friday, the single currency began appreciating and at the moment the trading level is placed around daily R2 at 2.6931. This level is well-supported

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.