XAU/USD 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
XAU/USD seems to be forming an ascending triangle that serves as evidence of demand building up. Moreover, most of the technical indicators are pointing north. Nevertheless, we consider the risks to be skewed to the downside, mainly because of the major resistance area between 1,207 and 1,210, which is created by the recent highs, daily R1, and a multi-month down-trend, which connects the January and April highs. This makes a dip first to 1,200 and then to 1,188 a more likely scenario than a breach of 1,209/1,210 and a subsequent rally towards the March high at 1,223. However, the SWFX market sentiment is strongly bullish, since as many as 73% of positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 20 Apr 2015 07:48:03 GMT

AUD/NZD 1D Chart: Channel Down

AUD/NZD has been in a strong bearish trend since it has formed a triple top pattern near 1.13. The overall bias is therefore negative, and a surge to 1.03, namely to the upper boundary of the channel, is not going to invalidate the outlook. The base case scenario is a breach of the support cluster around parity, and continuation of

Mon, 20 Apr 2015 07:00:05 GMT

GBP/USD 1H Chart: Channel Up

The Cable has recently formed a bullish channel, and at the moment it is attempting to exit the trading range the price has been fluctuating within since mid-March. Still, there is a significant chance the upper limit, namely resistance at 1.50, is not going to be broken, despite the pattern and the majority of ‘buy' signals on the four-hour chart.

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.