USD/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been developing in the ranks of a Channel Up pattern rather well. After the recent rebound from the pattern's boundaries (pattern's resistance) on the 5th of July pair was stuck around 200-bar SMA for some time, but pair continued depreciating and at the moment is trading just slightly above the pattern's support. As short term technicals send aggregate "sell" signal it is likely that pair will dip below it. However, the Stochastic indicator in the middle term and technical indicators on aggregate in the long term send "buy" signal suggesting that the pattern's bullish trend should persist.

© Dukascopy Bank SA
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Wed, 24 Jul 2013 12:21:49 GMT

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