The USD/Turkish lira has Reached the Top of a Classic Rollover Price Channel
The USD/Turkish lira has confirmed both a price channel (pink) and classic rollover channel (gray on chart), and is now at the top of the rollover channel.
The way this would usually play out from this point is with a fast move to the gray channel bottom and then up into the start of a topping formation.
USD/RUB has reached the top of a large megaphone and needs to complete a top and a retrace to VWAP.
USD/RUB is Working on a Top at the Top of Its Pink Megaphone Before a Retrace to the Megaphone VWAP
Similarly, the USD/BRL (Brazilian real) is forming a top on the head of a larger head and shoulders with a neckline at the top of an enormous rising megaphone. And the situation is similar with many other EM currencies and commodity currencies, which suggests a big turning point is at hand.