EUR/JPY continues its rebound from a support level at 107.51. The pair has formed a downside channel on 10M chart with 50% quality and 55% magnitude within 158 bars.The Euro remains bullish after it has rebounded from channel support level at 107.51. If growth continues the Euro may break resistance around 108.00. This price level can be critical for short
The rising wedge has formed on USD/CHF M30 chart. The pattern has quality of 68% and the magnitude of 98%. Pattern started on February 27th. Price is in the final stage of consolidation and now is trying to bounce from the support level at 0.9180. Bullish traders are expecting resistance breakout near 0.9215 with initial target 0.9300. Primary target for sellers is around 0.9120.
EURJPY has formed a triangle on M15 chart. The pattern has 43% quality and 80% magnitude within 138 bars. This is a short-term pattern which started at 13:30 on March 6th. Bears tried to break support level 105.84 but were unsuccessful. Afterwards the pair commenced recovering, though future perspectives are yet uncertain. Nonetheless, there exists a high possibility of consolidation
There is a rising channel pattern forming on the AUD/USD M10 chart. Pattern is in its initial phase. Price has rebounded from a support level at 1.0547 and is currently around 1.0573. Traders could expect level capture at 1.0600. RSI has been growing during the last 60 bars but is still neutral. If 1.0600 is not be achieved there is a possibility of a
The pair has formed a downside channel on M30 chart. The pattern has 53% quality and 100% magnitude within 198 bars. Currently the price is fluctuating around the resistance level at 0.8182. According to RSI indicator the pair is overbought and rebound is possible. The first target for short traders is near 0.8088. In case of a breakout above a
EURUSD continues fluctuating in the upside channel on H1 chart. The pattern has 63% quality and 100% magnitude within 188 bars.
EUR/JPY has formed a downside channel pattern on a daily chart. The pattern has 55% quality and has high magnitude of 79% within 192 bars.
EUR/USD has formed a downside channel pattern on a daily chart. The pattern has 64% quality and has high magnitude of 83% within 100 bars.
USD/JPY has formed a downside channel pattern on 30 min chart. The pattern consists from 68 bars and has relatively small quality and magnitude of 51% and 50% respectively.
The pair has formed a large bearish channel pattern with 100% magnitude. The price has been fluctuating within a downside channel since December 21 and currently the pattern contains 411 bars on H1 chart. If the price have a third top reversal point the quality of the pattern will likely increase by 15-20%.
EUR/USD continues downside move within a broad channel of nearly 300 pips. The pattern started to form on December 29 and contains 257 bars on H1 chart. The quality of the pattern is 57%, because the price has struggled to reach the support line at around 1.2496 level and changed the direction at 1.2619.
The pair has formed a falling wedge pattern on H1 chart. There is a downward price trend bounded by two intersecting down-sloping trendlines. Decreasing volatility indi-cates the uncertainty about the further price move and traders will likely wait for the pattern breakout to set P/L levels.
An ascending triangle has emerged on H1 AUD/USD chart. Although this kind of pattern suggests trend continuation, it has medium quality of 53% and downward breakout is also possible within the next few days. In case of evident bullish breakout, the price will be eventually supported by the current pattern resistance level around 1.0368 and the initial targets for traders
Aussie has appreciated by almost 450 pips against Singapore Dollar since December 15. The price has been fluctuating within a broad channel consisting from 302 bars on H1 chart. The pattern has medium quality and medium magnitude of 64% and 62% respectively. Due to the fact that the price has struggled to reach the pattern resistance line and changed the direction near previous resistance point, traders might expect an
AUD/CAD has formed a channel up. The pattern has medium quality of 64% and magnitude of 44%. Thus, traders will probably expect weak pattern breakout with a potential target around 40 pips. If the price continues movement within channel lines, traders may use support and resistance levels for hedging their positions.
Japanese Yen continues to strengthen against the single currency forming almost 500 bars downward channel on H1chart. Despite high magnitude of 84%, the pattern size and bias indicate a clear bearish signal. Thus, traders might use pattern support and resistance lines to trade the pair. However, some might set small take profit levels and wait the price to show trend reversal signals like emerging double
The pair has formed an upward channel consisting from 80 bars. The price has been moving within a broad channel (74% magnitude) since December 29 and has been capped twice by a downtrend at 1.5570 and 1.5670. The support line has been formed by two price reversal points at 1.5362 and 1.5466. Traders might consider these lines for further profit and loss level evaluation.
The pair has been moving within an upward channel since December 23. While going long the price was capped by a downtrend at 1.0387 and then at 1.0398, whereas the support line was formed by points at 1.0321 and 1.0340. The pattern's quality is 57% with a relatively small magnitude (39%) comparing to the past several days volatility. Traders might
USD/JPY has formed a falling wedge pattern on a daily chart. The downward price trend is bounded by two intersecting down-sloping trendlines since October 26. This reversal pattern has 72% quality and traders might expect the price to change direction as the price will evidently breakout the resistance line. However, 52% pattern magnitude suggests moderate take profit level fixing.