GBP/CAD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
For the past 170 hours the trading range of GBP/CAD has been narrowing, but at the same time the currency pair has been respecting two converging rising trend-lines. As a result, there is a rising wedge pattern appearing on an hourly chart of the pair. Even though the price has just entered the second part of this pattern, there is already a significant risk that the support area between 1.6806 and 1.6780, created by the up-trend, daily pivots and the 200-period SMA, will be unable to provide sufficient demand. Accordingly, we may soon witness a strong sell-off, which may take the price as low as 1.6636, where the pair started its latest recovery.

© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 19 Nov 2013 13:18:14 GMT

EUR/GBP 1H Chart: Channel Up

Although just recently we have recognised that EUR/GBP is trading within the bearish channel, we should also consider a possibility that the former hypothesis does not hold. Then we may assume that a recently initiated channel up will eventually take its place. For this to happen the single European currency will have to break a major down-trend resistance line at

Tue, 19 Nov 2013 06:56:52 GMT

EUR/JPY 1H Chart: Double Top

A short, only 75-bar long, double top pattern was formed by EUR/JPY on November 13. The currency pair has already touched the peak lying at a one-month high twice and retreated to the pattern's support zone at 134.79. Despite being supposed to decline after a dive below the pattern's support siting at 134.79, the currency pair reversed its trend to

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.