USD/CAD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/CAD took a bullish stance over the last week or so, just to fall into a rising wedge which is now building up bearish sentiment to trigger a sell-off after the bottom trend-line is breached. The pair has showed signs of a channel up as well, which could mean a prolonged bullish phase. However, strong resistance at 1.32 implies that this is unlikely to happen. In case the wedge is mature enough to break now, 1.3104 – the 55-hour SMA - will serve as the first support outside of the wedge, implying that a bounce towards the broken trend-line at 1.3116 is likely to consolidate the movements before a dive towards lower levels, such as the 100-hour SMA at 1.3029, takes effect. An unbroken pattern would mean a tap at the bottom trend-line and weekly R1 cluster (1.3137), with upside potential until 1.3223/24 - the upper trend-line, weekly R2 and daily R1 cluster. Aggregate technical indicators imply strong bullish momentum which might mean that the pattern is not ready to be broken just yet. With 1.32 being a significant resistance level, we are looking for a pattern break when this level comes along.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 14 Sep 2016 11:16:04 GMT

EUR/CAD 4H Chart: Channel Up

For the past weeks the Euro has formed an ascending channel pattern against the Canadian Dollar. The pattern is the result of a breakout from a triangle pattern, in which the currency exchange rate is on a much larger scale, as the triangle can be clearly seen only starting with the daily chart. At the moment, the common European currency

Wed, 14 Sep 2016 06:30:14 GMT

GBP/JPY 1H Chart: Falling Wedge

Following a break out of the monthly bull-trend, which could be a road through a two-year channel the pair has returned into after breaking the downtrend, GBP/JPY organized itself into a falling wedge. Just moments ago the rate executed a bullish breakout, suggesting that the senior pattern is indeed still in play, and the pair is about to target the

Subscribe to "Fundamental Analysis" feed

Suscribir
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre las opciones binarias de Dukascopy Bank / La plataforma de operaciones de Forex, SWFX y otra información relacionada con el Trading, por favor llámenos o solicite una devolución de llamada.
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información acerca de la plataforma de operaciones Crypto Trading / CFD / Forex, SWFX y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre Business Introducer y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.