USD/TRY 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is surging against the Turkish Lira in an ascending channel pattern. However, recently the currency exchange rate marked a new this year's high level at 3.1062. Afterwards, the currency pair retreated, which might mean that there could be broken soon, as the rate reached the pattern's lower trend line, which might not have the strength to propel the Greenback even higher against the Lira. Although, SWFX market sentiment indicates at an upcoming surge, as 74% of open positions are short, which clearly marks the currency pair as oversold. In such case the pair will once more push through the previously broken high level and continue its way to the next resistance at 3.1069, where the second weekly resistance is located at.
© Dukascopy Bank SA
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Fri, 14 Oct 2016 11:51:08 GMT

USD/RUB 4H Chart: Channel Up

The Greenback is still in a channel down pattern against the Russian Ruble on a larger scale. However, most recently the currency exchange rate reached the large scale pattern's lower trend line and rebounded. As a result of the rebound a channel up pattern has been forming this week. Although, its upper trend line is clear, the ascending short term

Fri, 14 Oct 2016 06:06:03 GMT

AUD/JPY 4H Chart: Channel Up

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