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NZD/CAD 4H Chart: Descending Channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Kiwi has been losing ground against the Loonie in a descending channel pattern. The New Zealand Dollar began to depreciate against the Canadian Dollar in the aftermath of the US presidential election. In the meantime, the currency exchange rate is in an ascending channel on a larger scale. In addition, the pair recently was affected by the Fibonacci retracement levels, which are measured by the recent November 9 high level with the low level of 2015. The 23.60% Fibonacci retracement level at 0.9543 proved its significance recently by providing resistance to the exchange rate. Although the pair is set to move lower, it is close to being oversold, as 68% of open SWFX positions are short.
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18 Nov 2016

NZD/CAD 1H Chart: Falling Wedge

The descending channel turned falling wedge confirmed the pattern with an upside breakout and a retracement from the violated trend-line. NZD/CAD is currently attacking the cloud resistance at 0.9516/0.9553 and is threatening to close inside, meaning a dedicated march through levels of significance might be on the way. The rate will test 0.9534/38 and 0.9544 if the intrusion is successful,

17 Nov 2016

CAD/HKD 4H Chart: Ascending Channel

The Canadian Dollar is simultaneously trading in three patterns against the Hong Kong Dollar. However, the situation is about to change, as the medium term falling wedge recently reached the long term descending channel's lower trend line and rebounded. In the following rebound the pair formed a rather week ascending channel, which is still set to challenge the descending wedge's

17 Nov 2016

AUD/CAD 1H Chart: Channel Down

Led by a channel, AUD/CAD addressed levels underneath, setting eyes on October lows at 0.9960 as the next major target. While the pair will face the psychological 1.0000 mark, we still see 0.9961 as the ultimate level to watch, as the pair has falsely overstepped 1.0000 on many occasions before, causing us to believe that a break beneath October lows