GBP/AUD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/AUD is bearish in the short term, and there are significant downside risks in the longer run, despite the major up-trend still being intact. During the next several days the rate should descend some 400 pips from 2.0851 (monthly R1 and up-trend), regardless of the bullish technical studies, though the latter fact could delay the sell-off. When the price reaches the lower boundary of the rising wedge, we should be on a lookout for a break-out, which will open up a way towards 1.96 (Jun 3 low and 11-month up-trend). However, there are still going to be significant demand areas left, such as 2.0250 (monthly PP and Jun 25 low) and 2.01 (weekly S2 and 200-period SMA).
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 06 Jul 2015 07:21:06 GMT

USD/TRY 1D Chart: Channel Up

Although in some of the pairs the Dollar has been performing poorly lately, the prospects in USD/TRY are bright. The currency pair has just reached the major support trend-line, meaning within the next few weeks the price is likely to return to the Jun high at 2.81. The next target will be the upper boundary of the channel at 2.9356.

Mon, 06 Jul 2015 06:12:24 GMT

USD/CHF 1H Chart: Channel Up

Considering the fact that USD/CHF has formed a bullish channel and a lot of technical indicators are currently pointing upwards, we expect further strengthening of the US Dollar. However, there is likely to be a small sell-off before the latest rally resumes. The base case scenario is a decline down to the support trend-line at 0.9350, followed by a rally

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.