AUD/JPY 4H Chart: Channel Down

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Source: Dukascopy Bank SA
The Australian currency still remains against the Japanese Yen simultaneously in three various scale descending channel patterns. However, due to the fact that the currency exchange rate has reached and bounced off the support line of the most dominant channel the pair is set to surge. Most likely in the upcoming weeks a new short and medium term pattern will reveal itself. Although, it is unclear, what will be the direction of the currency exchange rate in the medium term. The reason for that is the fact that the 23.60% Fibonacci retracement level is located at the 84.00 level. It will be possible to observe the direction of the pair, as the rate leaves the grip of the retracement level.
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Fri, 07 Apr 2017 08:03:51 GMT

EUR/RUB 4H Chart: Channel Down

The common European currency continues to decline against the Russian Ruble, as the Ruble is recovering in the markets after the drastic fall, which it suffered at the end of 2015 and start of 2016. Most recently the currency exchange rate reached the upper trend line of a medium term descending channel pattern, which represents the pair's bounce off and

Thu, 06 Apr 2017 12:54:17 GMT

AUD/CHF 4H Chart: Channel Down

The Australian Dollar is trading against the Swiss Franc simultaneously in two descending channel patterns. The junior channel is a representation of the currency exchange rates bounce off from the combined resistance of the 200-period SMA and the upper trend line if the dominant pattern at 0.7670 level. The channel is heading into the support provided by the 23.60% Fibonacci

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