NZD/CAD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
We hold a bearish outlook on the New Zealand Dollar this week. The currency pair has recently broken through the long-term moving average and formed a descending channel. The near-term rallies are to be capped by the falling resistance line at 0.9426, while the target is the December 15 low at 0.9242. However, the upside risks are not negligible. First, most of the daily technical indicators are giving ‘buy' signals. Secondly, the Kiwi is oversold in the SWFX market, being that 73% of positions are already short. Above 0.9426 will likely aim for the 200-hour SMA at 0.9468 and the weekly PP at 0.9491. Additional resistance is at 0.9546/33, created by the December 31 high and weekly R1.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 05 Jan 2016 07:01:04 GMT

GBP/JPY 4H Chart: Channel Down

There is a plethora of reasons to be short the Pound against the Yen. The main one is the fact that GBP/JPY is currently trading in a well-defined bearish channel. Additionally, there is plenty of room for new sellers, as 62% of open positions are long. At the same time, the pair is now facing a key support level—the 2015

Mon, 04 Jan 2016 14:50:11 GMT

USD/CHF 4H Chart: Channel Up

USD/CHF is somewhat indecisive around 200-period SMA at 1.0020 right now. This important resistance is immediately followed by the new January monthly pivot point, which creates downside risks for the US Dollar. In case the pair fails to overcome this supply, it will be forced to go below the pattern's trend-line at 0.99. Additional losses will have to be contained

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.