EUR/TRY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common European currency continues to trade against the Turkish Lira in a descending channel pattern, which has been analyzed previously. However, recent events demand an update of the analysis. As forecasted before the rate moved down to the 23.60% Fibonacci retracement level at 3.9307 and passed it after being hindered slightly. The situation is repeating itself, as the rate has recently rebounded against the 38.20% retracement level at 3.7759 mark, and in the last 12 hours has begun to make a second attempt to pass the support level. The Fibonacci retracement levels are measured for this pair by connecting the 2016 high and low levels.
© Dukascopy Bank SA
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Mon, 27 Feb 2017 09:10:26 GMT

AUD/CHF 4H Chart: Channel Up

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Fri, 24 Feb 2017 14:47:51 GMT

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