CAD/JPY 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
An ascending triangle usually indicates growing demand. However, the outlook for the Canadian Dollar is bearish, being that the pattern has been formed during a bearish market, namely at the end of the decline that has been observed since the beginning of January. Accordingly, CAD/JPY is expected to violate the up-trend at 95.23 and fall through the nearby weekly pivots. The sell-off is likely to extend to 91.76, where it is going to meet the Jan low. The currency pair may well slide even deeper, but it is going to encounter strong demand at 90.65, the minimum of 2014. On the other hand, should resistance at 95.41 give in, additional supply areas are at 95.87 and 96.74.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 16 Feb 2015 06:55:11 GMT

GBP/AUD 4H Chart: Channel Up

Although GBP/AUD is currently trading within the boundaries of a bullish channel, the downside risks are substantial. During the recent upswing the currency pair failed to reach the upper trend-line, meaning the upward momentum may be weakening. Consequently, a test of the lower trend-line at 1.9820 is critical. The base case scenario is a rebound from support toward 2.0389.

Fri, 13 Feb 2015 14:01:04 GMT

EUR/NZD 4H Chart: Broadening Rising Wedge

During this week, the Euro/Kiwi currency pair has been hovering just above the pattern's lower boundary, while showing no major intentions to start growing. The only attempt took place on Thursday, but the common currency's advance was immediately stopped by 55-day SMA at 1.5443. At the same time, there are still high chances that the Euro will bounce off the

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.