NZD/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The outlook on NZD/CAD is bullish. First, the currency pair has recently formed an upward-sloping channel. Second, most of the technical indicators on all three relevant time-frames are currently pointing up.
However, there is a strong resistance level at 0.94 that may prevent further appreciation of the New Zealand Dollar, represented by the 2014 Jun and Jul highs. If this obstacle is overcome and the up-trend at 0.94 remains intact, the price will likely target 0.96 next, namely the 2014 May peak. At the same time, the SWFX market is pessimistic with respect to the bullish potential of the Kiwi, being that three out of four open positions on NZD/CAD are short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 02 Mar 2015 08:00:10 GMT

CAD/JPY 4H Chart: Channel Up

Though CAD/JPY is currently trading in an up-trend, long positions still appear to be quite risky, considering that the market is bearish. Although the pair has broken the 23.6% Fibonacci retracement of the Dec 7—Jan 30 down-move, the outlook will be negative as long as 99.00 (50% Fibo and 2014 Dec low) acts as resistance. Another source of concern is

Fri, 27 Feb 2015 15:45:08 GMT

USD/SEK 4H Chart: Channel Down

The US Dollar has been appreciating relative to the Swedish Krona since the first quarter of 2014, when it traded at 6.33. But because of a lack of momentum USD/SEK is currently struggling to overcome an obstacle at 6.50. Accordingly, while in the short run the exchange rate is likely to decline a little more, eventually the pair should resume

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.