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EUR/TRY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The common European currency is in an ascending channel pattern against the Turkish Lira. The pattern came into existence because the currency exchange rate rebounded against the 38.20% Fibonacci retracement level, which is located at 3.7761 level. The ascending channel is the representation of the resulting surge. During the move the currency pair has broken through also the resistance of the 23.60% Fibonacci retracement level at 3.9310. The Fibonacci retracement levels are measured by connecting the 2017 January high and 2016 low levels. It is highly likely that the currency pair will approach the 2017 January high level of 4.1807 in the upcoming weeks.
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13 Mar 2017

USD/TRY 4H Chart: Channel Up

During the latest fundamental turmoil in Turkey the Turkish Lira has lost value against the US Dollar in a large scale channel pattern, which can be seen on the USD/TRY exchange rate. Most recently a medium scale pattern lead the rate down to the lower trend line of the large scale pattern. As a result of a rebound an ascending

13 Mar 2017

USD/ZAR 1D Chart: Channel Down

After setting an all-time high at 16.94, USD/ZAR started an extensive downfall and has been maintaining it ever since. It set a channel down pattern to frame the motion for the last three months or so, but managed to break it to the upside, giving out some fairly bullish signals over the last couple of days. The pair hit the

13 Mar 2017

USD/JPY 1H Chart: Head and Shoulders

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