AUD/CAD 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CAD has been trading in an upward-sloping channel since the beginning of February. Therefore, the overall outlook for the Aussie is currently bullish, even though the technical indicators are largely mixed. However, being that the currency pair has just bumped into the upper trend-line, the near-term risks are heavily skewed to the downside. Immediate support is at 0.9758, represented by the 200-period SMA and weekly PP, but the sell-off may extend to 0.9670 without invalidating the positive outlook. Additional supports are at 0.9644 and at 0.9589. The sentiment among the SWFX traders is positive: 62% of open positions are long.
© Dukascopy Bank SA
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Thu, 26 Mar 2015 07:55:07 GMT

GBP/CAD 4H Chart: Channel Down

If we ignore the Mar 4 dip, GBP/CAD appears to be trading in a well-defined channel. Accordingly, the Sterling is expected to underperform relative to the Loonie, as confirmed by the four-hour and daily technical studies, and the focus therefore is on supports. The closest demand area is at 1.8555, followed by the weekly S2 at 1.8508. The floor at

Wed, 25 Mar 2015 16:17:05 GMT

EUR/CAD 1H Chart: Channel Up

Having found dense demand zone at 1.34, the single European currency is currently trading in an up-trend. However, at the moment there is some hesitation observed in the vicinity of resistance at 1.3750 (weekly R1 and Jan low), despite the distinct bullish signals on the shorter-term time-frames.Accordingly, there is a good chance of a sell-off, which should be limited by

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