Trade Pattern Ideas

Trade Pattern Ideas

EUR/TRY 1H Chart: Channel Up
Fri, 11 Aug 2017 13:55:07 GMT
Source: Dukascopy Bank SA

Indicator 1H 4H 1D
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy

The Euro is trading in a channel up against the Turkish Lira. The pair was trading close to the upper channel boundary for a week before it made a wave downwards. Currently, the Euro has bounced off the lower channel line and is gradually approaching the 4.20 area. On Thursday, bulls managed to push the rate above the 55-, 100– and 200-hour SMAs and the weekly PP, the latter of which supported the rate from falling below the 4.17 mark. This signal in conjunction with other technical indicators suggest that the rate may still try to push up to the 4.21/22 territory in short-term. However, technical indicators should be watched for some signs of reversal (especially if the rate fails to climb higher), as the pair's ultimate high is located nearby—at 4.2112. Thus, pressure may be put on the Euro to depreciate in both short-term and long-term.

Back to feed

Contacts   Hot Links   Search
Site Map
Report an issue
© 1998-2017 Dukascopy® Bank SA

On-line Currency forex trading with Swiss Forex Broker - ECN Forex Brokerage,
Managed Forex Accounts, introducing forex brokers, Currency Forex Data Feed and News
Currency Forex Trading Platform provided on-line by

An error correcting system is functioning on our website. If you find a mistake you are able to send us a notification.
Simply highlight the error and press Ctrl + Enter and then follow the instructions.