Note: This section contains information in English only.For the past few trading sessions the Pound has been surging against the Loonie in an ascending channel pattern, which represents the rates surge from a strong support cluster. The support cluster is made up of the lower trend lines of the medium and large scale patterns. On a medium scale the pair was in a falling wedge, which has been broken, and on a large scale the pair is still in a triangle pattern. Most recently the rate hit the resistance line of the triangle. Due to that reason the currency exchange rate is set to form a short term descending pattern in the borders of the triangle. Traders are advised to look for the possible new trend lines via using previous pattern lines, which might still show their strength.
Wed, 01 Mar 2017 08:27:33 GMT
Source: Dukascopy Bank SA