USD/SEK 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SEK failed to recover past 8.46/8.48 last month, and as a result, the exchange rate is forming a descending channel on its way towards the lowest since October level. However, before the final bearish wave to 8.0950 there is likely to be an upward correction from the lower boundary of the pattern that, together with the weekly S2 and monthly S3, implies a dense demand area at 8.2665/30. An additional reason to be bearish is the current sentiment in the SWFX market. At the moment 74% of open positions are long, meaning demand for the US Dollar is highly unlikely to increase any time in the near future, and the bears are to dominate the pair for now.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 28 Dec 2015 07:52:05 GMT

USD/JPY 1H Chart: Channel Down

After the volatile first half of December USD/JPY seems to have calmed down and formed a narrow bearish channel. The pattern implies that the price will not rise far above 120.50, but instead will decline. Additionally, the four-hour and daily technical indicators are mostly pointing downwards. The sell-off will be expected to take a prolonged pause after the price falls

Thu, 24 Dec 2015 08:29:06 GMT

GBP/AUD 1H Chart: Channel Down

Although the rate may rebound today from the Tuesday's low at 2.0470, our bias with respect to the British Pound will remain negative. The immediate resistance is at 2.0574/70, represented by the daily PP and weekly S1. Even if this supply zone is broken, the falling trend-line at 2.07 will be expected to halt further recovery and send the pair

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.