XAU/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although on Monday it still seemed that the gold was going to resume last week's rally, on Tuesday the price plunged through the key mark of 1,150 dollars. As a result, XAU/USD is now in a bearish channel. The yellow metal is expected to bounce off of the down-trend line at 1,130 and thus start a journey towards the lower boundary of the pattern and the August 18 low at 1,110. The bearish outlook will be invalidated in case the 200-hour SMA is breached. This will imply an extension of a recovery back to the August 24 high at 1,1170. As for the positioning of the SWFX market participants, 56% of traders are currently holding long positions and 44% are holding short positions.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 27 Aug 2015 06:35:04 GMT

EUR/GBP 1H Chart: Triangle

Despite the fact that EUR/GBP failed to sustain upward momentum after hitting 0.7420, we retain a bullish outlook. The main reason is formation of a triangle, a continuation pattern, and the period Aug 19-24 was bullish for the Euro. Once breached to the upside, the figure implies a 140-pip move, but we must take into account resistances at 0.7364 and

Wed, 26 Aug 2015 14:43:17 GMT

USD/TRY 1H Chart: Triangle

USD/TRY is still trading within the boundaries of the triangle pattern, even though there is a high risk of a break-out in the near term. Bearish pressure is currently created by two moving averages on 55 and 100-hour time frames. On the other hand, bulls may rely on support from the pattern's lower edge, which is also strengthened by the

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.