CAD/JPY 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 400-bar long double top was formed by CAD/JPY on late August. According to the tools of technical analysis we might suggest the following scenario: first, a move in pattern's support direction, as the majority of technical indicators on short and medium terms are pointing at depreciation. However, in a longer period we could expect the continuation of the uptrend, as aggregate indicators on daily charts are sending "buy" signals. Moreover, the latest high of 97.55 reached on September 19 is much higher rather than the one made on September 11. Therefore, strong bullish impetus is indicated, reflecting trader's readiness to push pair higher even after several retracements.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 23 Sep 2013 15:15:22 GMT

EUR/SEK 4H Chart: Channel Down

Pair is trading somewhat in the middle of the pattern's boundaries. At the moment is retesting 38.2% retracement (13th to 20th of September move) which caused a minor setback in the end of the last week. At that point pair found support with 23.6% retracement which suggests that the Fibonacci levels should have significant impact on the pair in the

Mon, 23 Sep 2013 14:12:05 GMT

GBP/CAD 4H Chart: Channel Up

During the last 69 bars the pair has been moving parallel to pattern's support, and even though there have been few attempts to break the key level. Moreover, the pair is supported by a 200-bar SMA at 1.6290, so even in case of a breakout, it would be extremely difficult to push the pair lower. Thus, the pair is likely

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.