USD/CHF 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Along with EUR/GBP currency pair, the USD/CHF cross has been hovering inside the boundaries of the bearish channel, only though the pattern's time frame dates back to the first weeks of March. On the contrary, USD/CHF is now undergoing a period of bullish correction, while the pair is successfully moving in the direction of the upper trend-line. With neutral technical indicators in place, SWFX market participants are holding long opened trades in 73% of all cases. However, the US Dollar is expected to face a considerable resistance zone just below the upper boundary (monthly PP; 200-period SMA, weekly R2), which may put significant pressure on pair's bulls and reverse the cross back to the south.
© Dukascopy Bank SA
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Fri, 22 May 2015 06:24:39 GMT

USD/TRY 4H Chart: Channel Down

Taking into account the latest fluctuations of USD/TRY, there is supposedly a bearish channel forming on the four-hour chart. The US Dollar might recover in the short run, but the rally is likely to be stopped near 2.66, where the monthly pivot point merges with the down-trend line and 200-period SMA. Then we will look for the exchange rate to

Thu, 21 May 2015 13:31:04 GMT

EUR/GBP 1H Chart: Channel Down

Since the beginning of this week, the common currency has been refusing to move significantly below the upper trend-line of the bearish pattern. Despite that, there is scope for a sharp downward development at the moment. At first, EUR/GBP is required to violate the nearest weekly support line at 0.7069 (weekly S1). Additional momentum should be provided by the 200-hour

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