Dukascopy Bank Team
Dukascopy Bank SA
AUD/JPY has formed a Triangle on a 1H chart, bouncing up and down from two converging trend-lines for the last 270 bars. Being that the currency pair is at the resistance line, the Aussie is likely to depreciate until the price reaches 95.93. On the other hand, technical indicators in aggregate are slightly bullish.
USD/DKK 1H Chart
Emerging Pattern: Channel Up
USD/DKK has formed a Channel Up on a 1H chart, implying that the long-term outlook on the currency pair is positive. This idea is also supported by hourly and 4H indicators, but the signals are rather weak at the moment. The market, however, is expecting emergence of a dip, being that 73% of positions are short.
EUR/USD 1H Chart
Emerging Pattern: Channel Down
EUR/USD has formed a Channel Down on a 1H chart. The ratio between the bulls and bears suggests there is indecision among the traders, as it is not yet certain whether the pair is going to complete a leg up or re-test the lower edge of the pattern first, which is also a viable course of events. Accordingly, it may seem reasonable to wait until either of the down-trend lines is confirmed to make any kind of decision.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.