EUR/NOK 4H Chart: Triple Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rare triple bottom pattern emerged on the 4H chart of the EUR/NOK currency pair. Moreover, the pattern's boundaries have not been violated yet, meaning that the pair is trading both above all three valleys, but below the neck-line at 8.54. This week, it seems that the common currency is heading upwards, by trading around 8.4370 at the moment. Despite that, based on information from the weekly technical indicators, the pair is at risk of changing hands, when reaching the monthly PP and 200-period SMA at 8.52. A long-term potential decline should be extended as low as monthly S1 at 8.27. Meanwhile, the majority (57%) of SWFX traders are holding short positions on the Euro.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 12 May 2015 06:18:17 GMT

GBP/NZD 1H Chart: Channel Up

Although at the moment the Sterling is being sold off against the US Dollar, this is considered to be a downward correction. The bearish momentum is supposed to run out of steam around 2.1076, where the daily PP merges with an up-trend. The rally from there should then extend up to 2.16.On the other hand, if the trend-line at 2.1076

Mon, 11 May 2015 13:23:04 GMT

AUD/USD 1H Chart: Triangle

Despite continuously testing the lower boundary of the triangle pattern on Monday, the AUD/USD currency pair is likely to rebound in the near-term, while additional stimulus should be provided by the daily S1 at 0.7876. The bullish case is supported by 71% of SWFX market participants and daily technical indicators. However, there are downside risks at present as well. Both

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.