The common European Currency is trading against the Polish Zloty simultaneously in the long-term and short-term descending channels. The junior channel has formed as result of the currency rate's rebound from the upper-trend line of the dominant channel in the second half of April. At the present moment the pair is trying to bounce off from the bottom edge of
The Canadian Dollar is trading against the Hong Kong Dollar in the short-term ascending channel. Formation of the channel began shortly after a the Hong Kong Dollar's rapid depreciation on the May 5. The hourly chart reveals that after latest rebound from the bottom edge of the channel, fluctuations of the rate began to narrow, which led to the appearance
Although the US Dollar is trading in a medium term descending channel pattern against the Norwegian Krona, the currency exchange rate is most likely going to surge. The reason for that is the fact that the currency pair has reached the lower trend line of a dominant ascending channel pattern. Moreover, the support of the dominant pattern is strengthened by
The TRY/JPY currency pair represents the exchange of risk on against the risk off sentiment in the markets, as the turmoil in Turkey has beaten the Lira down to historical low levels against the Japanese Yen. However, most recently ascending channels have formed as a result of a fundamentally induced rebound. The pair is simultaneously trading in tow ascending channel
The British Pound is trading against the Canadian Dollar in the descending channel. The pattern has formed in the middle of last week, as the pair broke through the bottom trend-line of the short-term ascending channel. The last trading days showed that fluctuations of the rate became narrower, which indicates on formation of the falling wedge. For this reason,
The Australian Dollar is trading against the Hong Kong Dollar in the medium-term ascending channel. However, a depreciation of the Aussie, which lost 158 basis points in the beginning of the May, and its subsequent recovery led to formation of the short-term descending triangle with the equal lows located at the 1.0336 level. Currently, the pair is trading slightly
The US Dollar continues to lose ground against the Polish Zloty. In the recent weeks a sharp descending channel pattern has formed, which represents the rates bounce off from a larger channel down patterns upper trend line. Most recently the currency exchange rate passed the support put up by the 23.60% Fibonacci retracement level, which is located at the 3.8413
The Pound is surging against the Swiss Franc simultaneously in three ascending various scale channels. The currency pair is setting itself up for a short lived decline, which will transform itself into a surge up to the resistance put up by the 38.20% Fibonacci retracement level at 1.3151. The most relevant retracement levels for this pair are measured by connecting
The American Dollar is trading against the Turkish Lira simultaneously in the long-term and medium-term falling wedges. Most likely that acceleration of the downtrend and formation of the junior pattern were influenced by the Turkish constitutional referendum that took place on April 16. In the last week the pair has bounced off from the upper trend line of the junior
The New Zealand Dollar is trading against the Canadian Dollar simultaneously in the medium term ascending channel and short-term descending channel. The junior pattern is a representation of the pairs bounce off from the upper trend line of the dominant channel. It is likely that the pair will rebound from the bottom line of the senior channel near the 0.9370
The Australian Dollar is trading against the American Dollar in the medium-term descending channel. The channel has formed in the begging of March, when the rate bounced off from the upper trend-line of the short-term ascending channel. Fluctuations of the pair in the recent weeks showed that it has formed an ascending triangle with the upper horizontal trend-line located at
The US Dollar is surging against the Swedish Krona simultaneously in three ascending channels of various scale. Meanwhile, the currency exchange rate is highly influenced by the Fibonacci retracement levels of the 2016 high and low levels. Most recently the currency pair formed a short term ascending channel pattern in a dominant, medium term channel up pattern. However, the rate
As a result of a bounce off from the upper trend line of a long term ascending channel pattern the common European currency has formed a medium term descending channel pattern against the Norwegian Krona. The currency exchange rate is heading for the combined support of the dominant channel's lower trend line and the 38.20% Fibonacci retracement level near the
The US Dollar has been appreciating against the Japanese Yen since mid-April, forming a broadening rising wedge pattern. The pair has reached the wedge's lower boundary earlier today, with the exchange rate now expected to rebound and prolong the pattern. Technical indicators are supporting this outlook, as they are giving bullish signals in all three timeframes. However, there are doubts
The USD/RUB is set for a rebound, as it recently established a double bottom pattern. The pair has already shown some signs of recovery, with the question now being whether the exchange rate can climb over the neckline, which is bolstered by the 20 and the 200-hour SMAs, as well as the daily R1. Unless the Buck fails to appreciate,
As a result of a bounce off from a combined support of a long term large scale ascending channel pattern and a Fibonacci retracement level the Singapore Dollar is surging against the Japanese Yen in a medium scale ascending channel pattern. The channel has already passed the resistance, which is put up by the 38.20% Fibonacci retracement level at 80.36.
The South African Rand is surging against the Japanese Yen simultaneously in three ascending channel patterns of various scale. The smaller the scale of the pattern the more vertically inclined it is. The final result of the surge of the Rand against the Yen might be a curve, if the trend continues on. However, the currency exchange rate is soon
The Hong Kong Dollar has been appreciating against the Japanese Yen recently, but ultimately entered a bearish pattern—the double top. Unable to overcome the 14.69 mark, the given pair is likely to give in and make its way back towards 14.60, namely the neckline, where only two options are available: either the HKD rebounds creating a possibility for a triple
The AUD/SGD currency pair found itself in a rather tricky situation, being that it has two patterns present simultaneously — the descending channel and the descending triangle. The channel is the main one, as it first emerged more than two months ago, while the triangle only in the beginning of May. Moreover, the triangle is nearing its apex, which usually
The US Dollar is surging against the Mexican Peso on a medium scale in an ascending channel pattern. Simultaneously the currency exchange rate is also gaining ground in a larger scale ascending channel. The junior pattern is a representation of the pair's rebound against the dominant channel's support line. Meanwhile, the currency rate has revealed itself to be highly affected
Although the situation on the gold charts is being reviewed every day by the Dukascopy research team, some new developments have pressed for a review of the drawn trend line. Most recently the currency exchange rate reached the lower trend line of a possible large scale ascending channel. That occurred in the borders of two descending channel patterns, where one
The GBP/JPY currency pair has been trading with a rising wedge pattern for three weeks now, with the apex of the wedge looming closer. The given cross is expected to run the usual wedge's course, meaning that a break through the support line is more probable. The RSI indicator supports that, as it shows that the Sterling has been overbought
The USD/NOK pair recently reacquired its bullish momentum after retesting the broadening rising wedge's lower boundary during the weekend. Since then the Buck has been outperforming the Norwegian Krone, paving its way towards the pattern's upper border, which is expected to be reached if not by the end of the week, then in the beginning of the next. There are
It was expected for a long time, and the Greenback has finally ended its surge against the Canadian Dollar. The currency exchange rate has rebounded against the combined resistance cluster of long term ascending channel patterns. As a result the medium term ascending channel has been broken. However, the most interesting part is the new descending channel, which recently passed