AUD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Australian Dollar is depreciating against the US Dollar simultaneously in two descending channel patterns. However, the currency exchange rate might soon begin a medium term surge. The reason for that is the fact that the active junior pattern has already done its task, which is to guide the currency exchange rate from the dominant channel's resistance to its support. As a result a rebound has already begun, and the medium term channel down pattern is expected to be broken. Market participants should expect the formation of a new minor pattern. Meanwhile, SWFX market sentiment is not giving clues regarding the future direction of the pair, as 52% of open positions are long.
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Wed, 12 Apr 2017 13:26:33 GMT

EUR/TRY 4H Chart: Channel Down

The common European currency is simultaneously losing value against the Greenback in two descending channel patterns. The junior pattern represents the pair's bounce off from the upper trend line of the dominant pattern. Most recently the currency exchange rate passed the combined support of the 38.20% Fibonacci retracement level at 3.9227 and the 200-period SMA at 3.9202. As a result

Wed, 12 Apr 2017 07:47:41 GMT

AUD/SGD 4H Chart: Falling Wedge

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