USD/TRY 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A spike on Thursday, caused by the ECB, failed to heat up any additional demand for the US currency. USD/TRY was required to consolidate above the 200-hour SMA, in order to affirm bullish expectations within the channel up pattern. Bears, however, quickly pushed the currency pair back to the south. Now it is developing along the pattern's lower edge for a third consecutive day. Nevertheless, technical indicators are bullish on 1H and daily time frames, while US Dollar is oversold in the SWFX market, as 72% of all positions are short. A rally beyond the weekly PP at 2.9023 should encourage extra purchases of USD/TRY. The next supply is weekly R1 at 2.9337, followed by Nov 30 high at 2.9369.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 07 Dec 2015 14:30:14 GMT

NZD/CAD 1H Chart: Channel Up

We expect the demand for the Kiwi to resume shortly, as we are approaching a substantial cluster of support levels in the area between 0.8943 and 0.8920. This demand consists of the weekly pivot point, daily S1 and 100/55-hour SMAs. Judging from medium and long-term technical indicators, a recovery of NZD/CAD is quite likely to take place in the next

Mon, 07 Dec 2015 08:15:16 GMT

EUR/TRY 1M Chart: Channel Up

Assuming that EUR/TRY is in fact trading between two rising parallel lines in the monthly chart, the pair is to preserve bearish momentum for the next 3-4 months, until it reaches the lower boundary of the channel. The price is expected to bottom out near 2.80 and then resume the long-term recovery. However, the fact that the market is already

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.