EUR/AUD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/AUD has formed an ascending channel after confirming the major support trend-line (connects Dec 2015 and Jan 2016 lows) at the very end of the previous month. Accordingly, our outlook on the Euro is bullish, especially considering the technical indicators in the hourly and four-hour charts. The currency pair is expected to rebound either from the weekly R1 or even more likely from the lower boundary of the emerging channel at 1.5890, thus starting a new bullish wave. Meanwhile, the immediate resistance level at 1.6150 is formidable, consisting of the weekly R2 and Feb 9 high. Nevertheless, soon there is likely to be a retest of the last year's September high at 1.6250.
© Dukascopy Bank SA
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Wed, 10 Feb 2016 07:17:07 GMT

EUR/TRY 4H Chart: Channel Up

EUR/TRY is in a strong up-trend. Apart from solid support areas at 3.2550/3.2450 and at 3.22, the overall positive bias is ensured by the long-term trend-line at 3.12 lire that has been topical throughout the whole 2015. However, right now the price is headed towards the upper edge of the channel, meaning the near-term upside potential is limited by 3.3650/3.3550,

Tue, 09 Feb 2016 14:14:04 GMT

GBP/AUD 4H Chart: Channel Down

This currency pair is nearing the upper boundary of the channel down pattern. Despite the pair's ability to consolidate above a major cluster of resistances between 2.0326 and 2.0488, the future scenario is highly likely to include a correction lower from 2.07. Here the Sterling is expected to hit the weekly and monthly R1s, which are offering supply along with

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