EUR/AUD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
On Friday, the EUR/AUD cross reached its highest level since February of this year, stopping just above the 1.48 mark. Following that, the pair entered a correction phase in its development; therefore, the long-term target is now likely to be the pattern's support, currently at 1.4492. Nevertheless, at first the common European currency will be required to depreciate down to the weekly pivot point at 1.4642, followed by the long-term simple moving average at 1.4545. The bearish scenario is shared by 64% of SWFX market participants at the moment. However, 4H technical indicators are pointing upwards, leaving open the possibility of any local spikes in the pair's value.

© Dukascopy Bank SA
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Mon, 06 Jul 2015 14:36:10 GMT

XAU/USD 4H Chart: Channel Down

Gold has been under intense pressure from bears since May 18, when the bullion stopped growing around the 1,206 mark, or just above the Jun high. XAU/USD has consequently created the bearish channel pattern on the 4H chart, by violating all 55, 100 and 200-period SMAs on its way down. The medium-term outlook tends to remain fairly negative towards the

Mon, 06 Jul 2015 07:21:06 GMT

USD/TRY 1D Chart: Channel Up

Although in some of the pairs the Dollar has been performing poorly lately, the prospects in USD/TRY are bright. The currency pair has just reached the major support trend-line, meaning within the next few weeks the price is likely to return to the Jun high at 2.81. The next target will be the upper boundary of the channel at 2.9356.

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