HKD/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Hong Kong Dollar is another currency, which has reversed its direction against the Japanese Yen, as the currency exchange rate broke out of the long term descending channel pattern and has formed an ascending channel. Most recently the currency pair broke the resistance put up by the 23.60% Fibonacci retracement, which connects the 2016 low level with the 2015 November high level. Due to that it is most likely that the rate is set to surge even further, as there are only minor resistance levels located on the path of the pair. However, the pair is already overbought, as 71% of open SWFX positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 31 Oct 2016 08:30:48 GMT

USD/NZD 1H Chart: Double Bottom

While an attempt at reversing the previous downtrend failed on the fifth wave, USD/NZD went on to repeat the motion, forming a double bottom at 0.7118 with a neckline at 0.7182. A close above this level would confirm a change of trend and set the next major target at 0.7247 where October 20 highs lay – a scenario quite likely

Fri, 28 Oct 2016 10:51:32 GMT

SGD/JPY 4H Chart: Rising Wedge

The Singapore Dollar is in a quite strange situation against the Japanese Yen from a technical trend analysis perspective, as the currency exchange rate has broken out of a more than a year old descending channel pattern. The breakout occurred after the pair had been trading in a short term descending channel and, after hitting the pattern's lower trend line,

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.