GBP/CAD 1H Chart: Symmetrical triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
While GBP/CAD has been upholding a strong northward trend-line, recent movements sketched a boundary from the upside as well, creating a symmetrical triangle pattern. With a breakout from the pattern two days ago, the pair affirmed the trend, continuing its way up. A new, steeper uptrend has been developed, implying that the pair could surge in the short-term. On a weekly basis, however, a descending channel has been formed, implying that the rate is in a generally bearish trend. We therefore expect a rally towards the upper trend-line at 1.7648, followed by a dip to 1.6102 where the channel bottom trend-line lies. A short-term bull market is signalled by aggregate technical indicators, but not by trader sentiment, as an overwhelming majority (70%) of positions outstanding are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 01 Sep 2016 08:10:12 GMT

AUD/CHF 4H Chart: Channel up

AUD/CHF rose two percent over the last 12 days, establishing a decent uptrend that we do not expect to be broken in the nearest future. With the help of the 200-period SMA, the pair will be pushed higher – a forecast backed by the symmetrical triangle it has just broken as well as an upward channel established on the way

Wed, 31 Aug 2016 10:55:05 GMT

USD/DKK 1H Chart: Channel Up

As the US Dollar gains strength after Janet Yellen's announcement of a possible increase of the Federal Reserve's rate, the Greenback is trading in a channel up pattern against the Danish Krona. The currency exchange rate is moving in a very thigh range, as the channel is only 200 pips wide, which is not much for this pair. Recently the

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.