The Australian Dollar remains simultaneously in two descending channels against the Japanese Yen, as the currency exchange rate has passed the 23.60% Fibonacci retracement, which is located at the 83.94 level. Most recently the currency pair reached the combined support of the dominant channel's lower trend line and the 38.20% Fibonacci retracement level, which is located at the 81.77 mark.
A large-scale channel down pattern has been leading EUR/JPY south since the March high of 122.61, but has failed to sketch solid waves with the pair setting correction phases with various patterns instead of showing a consistent movement. The latest development led to the emergence of a junior descending channel which appears to be leading a movement south to 115.28
HF/SGD left an annual high of 1.4344 on the hourly chart and has lost around three percent until this day when another bearish pattern emerged after a steep dip beneath the 200-hour SMA. The pair has been trading in the bounds of a descending channel pattern and has just slightly touched the upper trend-line, meaning that a slip to the
On a massive scale the Pounds movements against the Canadian Dollar are being dictated by the Fibonacci retracement levels, which are measured by connecting the 2016 October low and 2016 August high levels. However, most recently the currency exchange rate has revealed that on a smaller scale there are two simultaneously active channel down patterns, which are guiding the pair
The common European currency is trading simultaneously in two descending channel patterns against the Russian Ruble, as the Russian currency recovers. Most recently the currency exchange rate reached the upper trend line of the junior channel down pattern and began to slowly decline in a tight range just near the trend line. Due to the fact that this pair is
EUR/CHF has been keen on forming wedges recently as a break above the falling wedge on the daily time-frame resulted in a similar pattern on the four-hour chart. The latest wedge reflects the extended correction that failed to lead to a strong rally or a correction of the broken large-scale pattern, but is now showing some bullishness when it comes
While currency markets opened in chaos with a weakening US Dollar, surging Aussie and several other developments caused by fundamental events, such as Donald Trump's speech and promising Australian jobs data, CHF/JPY did not break any patterns, suggesting that investors might be pushing their funds into both safe-haven currencies amid rising uncertainty. The pair stuck to the bottom trend-line of
The common European currency is simultaneously losing value against the Greenback in two descending channel patterns. The junior pattern represents the pair's bounce off from the upper trend line of the dominant pattern. Most recently the currency exchange rate passed the combined support of the 38.20% Fibonacci retracement level at 3.9227 and the 200-period SMA at 3.9202. As a result
The Australian Dollar is depreciating against the US Dollar simultaneously in two descending channel patterns. However, the currency exchange rate might soon begin a medium term surge. The reason for that is the fact that the active junior pattern has already done its task, which is to guide the currency exchange rate from the dominant channel's resistance to its support.
AUD/SGD had not attempted 1.0953 for two years before February when the area was attacked from beneath. The pair has since left the zone, but is still showing signs of bullishness as highs lose amplitude. A falling wedge has been leading the motion for the last few weeks and a close above 1.0569 would serve as a confirmation of a
After NZD/CHF broke a large-scale channel up on the daily time-frame to the downside, the pair has distanced itself from the pattern and entered a correction phase. The cross has established a trading range which it just confirmed for another time after a flattish upward motion. The current stickiness of the bottom part of the pattern signals risks below and
The Canadian Dollar is surging against the Swiss Franc in an ascending channel pattern, which is guiding the currency exchange rate in its rebound against the combined support level of the support lines of two dominant patterns and a Fibonacci retracement level. The relevant Fibonacci retracement levels for this pair are measured by connecting the 2016 high and 2016 November
The Pound has reversed its surge against the Greenback in an ascending channel pattern and formed a descending channel pattern, which has broken the lower trend line of the previously active channel. The now dominant patterns is aimed at the 23.60% Fibonacci retracement level, which is located at the 1.2321 level. The most relevant and in medium term effective Fibonacci
USD SEK launched a second attack at the significant 9.8810 level in a channel up pattern, but the area has been holding strong and now appears to be on its way to cause a break below the bottom trend-line of the formation. The flat motion might, however, be enough to let the pair above the strong area without jeopardising the
SGD/JPY slid from four-month highs at 82.09 to lose around four percent and now appears to be on its way to confirm a channel down in a small-scale falling wedge which is bound to break to the upside. The top boundary has already proved its recent stickiness despite the solid wave south which is most likely to not get to
The common European currency is depreciating against the Polish Zloty simultaneously in three descending channel patterns. The future situation is quite unclear, as the pair should surge in the medium term due to hitting the support line of one of the dominant patterns. However, the most junior pattern is holding the line and might still guide the currency exchange rate
The Greenback is surging against the Polish Zloty in an ascending channel pattern, which is a representation of the currency exchange rates rebound in the borders of a larger descending channel. The currency exchange rate is about to experience a bounce off against a resistance level. However, it is quite unclear against which resistance, as the 200-period SMA is moving
What used to be a channel down pattern on the hourly chart, has now lost amplitude for lows and upped its bullish potential as a falling wedge emerges. Following the double top on the daily chart, NZD/JPY showed solid downward momentum until just now. The hit at the upper trend-line might serve as a stepping stone to start another wave
The monthly downtrend added a second boundary to sketch a falling wedge on the hourly chart to set some bullish pressures into action. The GBP/JPY has just touched the upper bound of the pattern and entered a resistance cloud which is most likely to send the rate packing towards the lower trend-line around 137.02. There is a strong support cluster
There is almost no hope in sight for NZD/JPY with a double top on the daily chart and a strong downtrend flowing out of it. In addition, the pair has just under-stepped the 100-hour SMA and lies exactly below the extremely bearish crossover of the 55 and 100-hour SMAs, sending strong SELL signals to traders potentially leading to an even
The Sterling recently hit a strong resistance cluster against the Swiss Franc and as a result a medium term descending channel is in the formation. On a large scale the currency exchange rate is in an ascending channel pattern, which is set to struggle with the 23.60% Fibonacci retracement level at the 1.2595 level in the long term. The retracement
The Pound is in a complicated situation against the Canadian Dollar, as various types of lines can be drawn on the rate, and the situation seems like a mess after first glance. The currency exchange rate is simultaneously trading in three channel patterns, and two trend lines of various channels are also creating a triangle pattern. All in all, a
The Greenback is losing ground against the Russian Ruble also due to the reason that the Ruble is continuing its recovery from the events, which occurred around New Year's Eve of 2015/2016. The currency exchange rate is fluctuating simultaneously in two descending channel patterns. However, clues indicate that the situation is about to change. The reason for that is the
The common European currency continues to decline against the Russian Ruble, as the Ruble is recovering in the markets after the drastic fall, which it suffered at the end of 2015 and start of 2016. Most recently the currency exchange rate reached the upper trend line of a medium term descending channel pattern, which represents the pair's bounce off and