USD/SGD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
For a fifth consecutive day the US Dollar is trying to pierce through the major resistance area and commence an eventual rebound from the lower boundary of the bullish channel. The nearest supply is reinforced by the 100 and 55-period SMAs, as well as the weekly pivot point just below 1.35. An ability to consolidate above them will refocus attention on the next major support at 1.3628 (monthly R1, Jun 8 high), while paying most of attention to the pattern's upper trend-line at 1.3709. A rebound is broadly supported by 73% of SWFX market participants. At the same time, 4H and daily technical studies suggest there is a greater possibility of the Buck's slump against the Singapore Dollar.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 17 Jun 2015 06:50:03 GMT

GBP/CAD 1H Chart: Channel Up

Today's outlook on the Sterling is bullish. GBP/CAD is expected to bounce off the lower boundary of the channel and rise towards 1.94. There the rate should encounter strong resistance, implied by the upper trend-line and the weekly R2 level. The downside risks are represented by supply around 1.93, where the weekly R1 merges with the Jun 16 high, but

Tue, 16 Jun 2015 14:01:09 GMT

GBP/USD 1H Chart: Rising Wedge

The Sterling/Dollar pair formed a rising wedge pattern during the past trading week. The pattern implies a narrowing trading range, making it difficult for the Pound to continue developing inside the boundaries of the wedge. The exchange rate is still located around the upper edge, even though there were attempts to lose value on June 16. However, the 55-hour SMA

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.