USD/TRY 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Recently, we have observed abnormally large fluctuations of USD/TRY. The pair skyrocketed to the highest level since at least 2007 of 2.3911 on January 27 and lost more than two thousand pips in the following day. In fact, some fundamentals were at a play, with the central bank of Turkey raising rates to stabilize the national currency. Having faced unusual volatility, the currency pair followed a distinct downside trend. Now the pair is struggling at the 50-hour SMA that is meandering at 2.2168, close to the upper trend-line of the 190-bar long falling wedge pattern and may break through this level given that more than two thirds of traders are bullish on the pair.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 11 Feb 2014 07:53:46 GMT

HKD/JPY 1H Chart: Channel Up

Having reached a three-year high of 13.5999, the Hong Kong Dollar changed direction against the Japanese Yen and was retreating until the pair reached a three-month low of 12.9744 in the very beginning of February. Since then, the pair has been locked in the tunnel formed by two upward sloping lines. At the moment, the currency couple is rebounding after a

Tue, 11 Feb 2014 07:34:48 GMT

USD/JPY 1H Chart: Channel Up

A jump to more than a five-year high of 105.47 put a heavy selling pressure on USD/JPY thus pushing the pair towards several month lows. However, the downswing was not long-lasting as after a dive to almost a three-month low of 100.75, the U.S. Dollar got an impetus to rally against its Asian peer; for the last 90 hours the

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.