EUR/NOK 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early March the single European currency has been outperforming the Norwegian Krone, hinting at a possibility that EUR/CAD could be trading within the boundaries of the bullish channel. However, while the lower trend-line did prove to be important for the market, the upper trend-line remains a wild card, having only a few confirmations during the last 300 hours. But this may become irrelevant, if the support at 8.3395 is breached, as this event will invalidate the pattern and imply extension of the decline that was supposed to be a bearish correction within an upward-sloping corridor. The weekly S1 at 8.2793 in this case is likely to become the next target of the sell-off.

© Dukascopy Bank SA
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Thu, 27 Mar 2014 08:20:47 GMT

GBP/AUD 1H Chart: Channel Down

Perhaps it is too early to claim that GBP/AUD is trading in a bearish channel, but there is a good chance for this become true.  In order to confirm this assumption GBP/AUD needs to recover in the nearest future from the support at 1.7857 up to 1.8147, where in turn the hypothetical down-trend resistance line merges with the 200-hour SMA.

Wed, 26 Mar 2014 14:03:48 GMT

NZD/USD 4H Chart: Channel Up

We are more or less convinced that the lower up-trend line (in green) is a reliable support, whereas there are concerns with respect to the upper boundary (in red) of the potential bullish channel. Accordingly, while there is a good chance that the New Zealand Dollar is going to leave the vicinity of the weekly pivot point at 0.8561, there

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