AUD/SGD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After finding a strong support at the 200-period SMA 100 hours ago AUD/SGD was able to commence a recovery that still persists. The price action during this time interval suggests that at the moment the currency pair is highly unlikely to breach the support at 1.1913 where it is currently trading. This area is formed by the daily pivot point and the up-trend line.
Accordingly, we are inclined to believe that the price is well-positioned to advance towards the upper trend-line, namely en route to 1.1997. Additionally, 72% of SWFX traders are bullish on AUD/SGD.
© Dukascopy Bank SA
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Fri, 18 Oct 2013 13:52:34 GMT

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Fri, 18 Oct 2013 07:46:40 GMT

EUR/TRY 1H Chart: Channel Down

On the whole EUR/TRY is currently undergoing a bearish correction, since the up-move started back in April failed to overcome the resistance at 2.7741. And while the near-term technical indicators favour a rally, there is a good chance the supply zone at 2.7015, created by the daily R1 and the down-trend resistance line, will not allow the Euro to appreciate.

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