GBP/USD 4H Chart: Rectangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The cable has been highly volatile during the last two days, and mostly led by fundamental data. Hence, on Tuesday, the pair lost 136 pips after disappointing inflation data, while on Wednesday, it rebounded from previous drop, rising 123 pips, on the back of better-than-expected data from the U.K. labour market. Though technical indicators are mixed, in a shorter periods they are sending "buy" signals, suggesting the appreciation would continue. Moreover, 68% of pending orders in a 50 pips range, are placed to buy the pair, providing additional support for bulls, in case the uptrend would continue. Taking into account all previously mentioned, a retest of 1.60 and a 200-period SMA is expected.
© Dukascopy Bank SA
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Wed, 13 Nov 2013 13:30:12 GMT

NZD/CHF 4H Chart: Rectangle

Another rectangle was formed by NZD/CHF on August 27, when the pair soared from 0.711. Since then the pair has been bounded between two parallel trend lines, in a 300 pips range. Though technical indicators are not univocal, the fact that each new high was higher than the previous one, is suggesting bulls would be able to penetrate the resistance

Wed, 13 Nov 2013 07:05:32 GMT

EUR/DKK 4H Chart: Channel Down

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