USD/MXN looked rather bearish with a double top at 22.01 and several downward sloping patterns guiding the motion south. A senior channel has gained its ground with a multitude of confirmations and solid trend-lines and shows little reason to believe that it might break. The pair has just broken a short-term channel down that has served its purpose to lead
A double top at 118.28 for USD/JPY led the pair south starting December 2016, leading to tests of the recent support at 111.84. The pair has now stepped underneath the level while being bound by a channel down pattern, meaning that this could either be the beginning of a downtrend or just a false breakout. While the channel has not
The US Dollar is trading in a short term descending channel against the Russian Ruble, as the currency exchange rate recently broke out of a medium term ascending channel. The rate might move in the tight range of the descending pattern down to the lower trend line of a large scale descending channel. However, that is highly unlikely, as rarely
The US Dollar is depreciating against the Singapore Dollar in a medium term descending channel pattern. However, the medium scale pattern is about to become obsolete, as the currency exchange rate recently touched the lower trend line of a larger, dominant descending channel pattern. Due to this factor it can be assumed that a medium term ascent is in the
AUD/JPY soared to yearly highs at 87.38 in an accelerated motion, proving that the some time to execute a correction is needed on the daily chart and has therefore sketched an ascending triangle formation. The triangle brings little doubt that the pair will continue the surge when the upper trend-line is broke due to several reasons, including the false breakout
The common European currency is surging against the Russian Ruble in the medium term in an ascending channel pattern. Moreover, the short term descending channel, which has guided the rate for a week, is about to become obsolete, as the currency pair has encountered and rebounded against the lower trend line of the medium term ascending channel. During the rebound
The Australian Dollar is trading in an ascending channel pattern against the Swiss Franc. A month ago, on February 22, the currency pair booked a new high level, which serves as a basis for the measurement of the Fibonacci retracement levels. The retracement levels are measured by connecting the February high level with the 2016 low level. Most recently the
EUR/CAD managed to break the strong resistance area at 1.4282, which had bound a ranging motion from ht upside. The pair has already executed a retracement of the broken area and is now paving the way for a larger-scale surge which would set the next target at 1.4523/4555. The current motion will, however, require some strong bullish pressures to stick
USD/NOK tried to launch a second attack at December 2016 highs, but fell short and set the latest peak at 8.6220, but bounced back to show a 2.5% slip. However, lows have lost volume and led to a falling wedge formation on the hourly chart, which looks mature enough to break immediately and to the upside. Immediate resistance lies at
ZAR/JPY continued its way into areas unconquered since 2015 and managed to show solid bullish potential by confirming an upward sloping channel on the hourly chart. The ultimate target could now lie at 9.203, the resistance of September and October 2015 where supply could take over and lead to a slide. The pair is currently squeezed in between a set
The Pound is surging against the US Dollar in an ascending channel pattern on the hourly chart. However, on a larger scale the currency exchange rate is moving lower in a descending channel. The minor pattern is a representation of the rates surge from the dominant channel's support line to its resistance line. It is most likely that the pair
The Aussie is surging on the daily chart against the Loonie in an ascending channel pattern, which is breaking one by one through Fibonacci retracement levels. The Fibonacci retracement levels are measured by connecting the 2016 high level and the 2015 low level. The retracement levels have been affecting the currency pair's movements for the past two years. It can
CHF/SGD attempted to recover from the 3.3% slip it posted over the last month or so, and sketched a combination of two patterns that give out very different signals on the hourly time-frame. While highs losing amplitude suggest that there might be some bearish potential accumulating, a newly sketched channel up pattern denies a reversal, but might just be too
Following the December attack at the 2015 high of 7.1549, USD/DKK established a downward-sloping channel, which has now added an additional boundary for diminishing highs that point to a falling wedge pattern. We will look for the upper boundary of the wedge to immediately break at 6.9079 and for a steep surge to dash through the resistance of 6.9140 with
The US Dollar still remains in the previously already twice reviewed descending channel pattern against the Mexican Peso. The rate is already approaching the 38.20% Fibonacci retracement level, which is located at the 18.9579 level. The Fibonacci retracement levels are measured on this pair by connecting the 2016 low and high levels. The rate is most likely set to stop
The common European currency in the previous weeks has formed an ascending channel pattern against the US Dollar, as the currency exchange rate has broken out of a previously active medium scale descending channel pattern. The break out and the channel up pattern formed in the aftermath of the rate reaching the lower trend line of the almost three month
EUR/GBP fell short of posting a second successful attempt at the January high of 0.8842 and broke the nearly perfect channel up pattern to sketch another one in the opposite direction. The pair has just confirmed the trend-lines enough to make the pattern at least somewhat credible, meaning that we will look for a fall to the bottom boundary at
EUR/JPY failed to step above the nine-month high of 123.43, showing the fourth consecutive unsuccessful attempt, this time not even touching it. The pair has now sketched a channel down pattern on the hourly chart which appears to be still holding strong. It is currently in the middle of the pattern and on its way towards the bottom trend-line around
The Canadian Dollar is trading simultaneously in three descending channel patterns against the Swiss Franc. However, clues indicate that the currency exchange rate is about to surge in the near future. The pair has reached the lower trend line of the dominant, large scale descending channel. After two attempts to pass it the currency pair rebounded, and most recently
The common European currency is in an ascending channel pattern against the Hong Kong Dollar on a medium scale. However, the currency exchange rate has already reached and bounced off from the upper trend line of the dominant, long term descending channel pattern. Due to this factor the currency pair is most likely set to move lower and pass the
EUR/TRY put an end to the promising upward motion within a small-scale channel down pattern, destroying any hopes that the repeated attack on the all-time high of 4.1665 might be successful. The pair posted a double top on the hourly chart at 4.0145 and went on to form the bearish pattern, inside which it hit the 3.9670/57 with the last
GBP/AUD attempted to abandon the three and a half-year low of 1.5913 which it tested in October 2016, but has not been conclusively successful yet as a ranging motion has emerged on several time frames. The pair has sketched a symmetrical triangle on the hourly chart which suggests that the downward motion should extend below the critical area. The rate
The long lasting ascending channel, which guided the price of silver higher since the start of December has run into a problem. As a result of the commodity price encountering the upper trend line of the long term pattern a descending channel in the matter of a couple weeks pushed the rate lower to the combined support level of the
The US Dollar is trading in a descending short term channel against the Swiss Franc. However, that does not indicate that the currency exchange rate is set to decline, as the pair has already reached the lower trend line of a dominant pattern. Most recently the Greenback rebounded against the Swiss Franc due to the encounter of the before mentioned