USD/CAD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The situation in the hourly chart suggests a strong sell-off, being that the currency pair has recently confirmed the upper bound of the newly formed channel. In reality, however, we are closing in on the major trend-line that was initiated back in April of the previous year. Accordingly, once we get close enough to it (around 1.3620), the bulls should take control of the pair, and the pattern will then be broken to the upside. In this case the targets will be the February highs—Feb 19 high at 1.3850, Feb 16 high at 1.3910, and Feb 11 high at 1.4020. A close below the major trend-line will imply a 500-pip decline down to the 20-month trend-line.
© Dukascopy Bank SA
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Tue, 23 Feb 2016 06:11:03 GMT

USD/TRY 1H Chart: Channel Down

The overall outlook on USD/TRY is strongly bearish. The currency pair confirmed the downside breakout of the 16-month up-trend in the daily chart after an upward retracement from 2.89. Accordingly, we are likely to see USD/TRY preserve the bearish momentum until the price reaches the February low. However, there are notable supports in the way, such as the weekly S1

Mon, 22 Feb 2016 13:55:41 GMT

USD/ZAR 4H Chart: Channel Down

There is a high possibility of a rebound in the nearest future, but long-term short positions should be relatively safe until the price hits the ten-month up-trend at 14.20 rands. USD/ZAR is expected to bounce off of the lower bound of the emerging channel and the monthly S1 at 15.25/15, and the ceiling for this recovery is seen at 15.80,

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