The common European currency recently surged against the rest of the market, as during comments made my FOMC members in the US, the Buck lost value. The surge of the Euro has spilled over into the rest of the currency pairs, against which the European currency trades against. However, against the New Zealand Dollar it seems that the move was
NZD/CHF confirmed built up bearish potential in a rising wedge formation with a break below the bottom boundary at 0.7149 to slip to 0.7081, the bottom Bollinger Band for tests of the area. The motion could be cut soon to take up a corrective motion for the sake of the broken trend-line, however, we will look for a slide in
Following an upside breakout from the falling wedge pattern that EUR/GBP had sketched on the daily chart, the pair showed strong bullish potential in an ascending channel formation. Even though a retracement from the broken trend-line should be on the menu, we will look for an uninterrupted surge, as the pair has already completely distanced itself from the previous large-scale
EUR/NOK overstepped the 8.9273 area which had bound a range since October 2016 and had been tested for an astonishing five times while experiencing a single conclusive break below. The pair has taken the form of a channel up pattern on the hourly chart and continues to sending bullish signals, even though the formation itself might give in to short-term
The Hong Kong Dollar recently rebounded against a large scale ascending channel pattern's lower trend line against the Japanese Yen. As a result the currency exchange rate has begun a short term surge. However, this pattern will not be active for long, as a medium scale pattern, which will guide the rate to the most dominant pattern's resistance line, is
After reviewing the situation on the chart for Silver, an astonishing discovery has been made. The bullion is still trading in the medium size ascending channel pattern, which was discovered on December 4 by the analytics department of Dukascopy Bank. The metal traded near the upper trend line of the ascending channel for three months until recently the commodity price
A rising wedge on the hourly chart confirms the bearish formation on the daily chart which, while unidentifiable, suggests that a trend-line will push the pair down sometime soon. EUR/GBP has been sticking to the bottom boundary of the pattern and has showed it troublesome to reach for the upper trend-line one more time. 0.8575 could be the area where
CAD/JPY set out various bearish signals on the hourly chart, starting from a double top and ending with a channel down, which might now come into play on the hourly scale as well. The pair has established a junior channel down pattern as part of its attempt to reach the bottom boundary of the senior one at 84.77. After a
The recent movements in the yellow metal's price in accordance with a short term descending channel have done a big favor to the bullion's long term traders. During the move the borders of an ascending wedge pattern were confirmed. This changes the previous hypothesis of the existence of a lone uptrend line. In fact the line is the supporting line
The Pound is simultaneously trading in three various channels against the New Zealand Dollar, as the currency exchange rate has been depreciating for the past few weeks. On a large scale the pair is in an ascending channel pattern, and the two other patterns are directing the pairs bounce off from the dominant patterns resistance line. Most recently the currency
USD/TRY set foot in an ascending channel pattern on February 23, and has been respecting its bounds ever since. The pair has just hit the daily R1 at 3.7691 and is showing trouble to push through, suggesting that the up-wave might be complete for now and the bottom boundary might come into play sometime soon. Immediate support lies at 3.6659
USD/JPY set the bar at 118.30 in December 2016, but slipped later on and lost around 4% until this moment. The pair was attempting a soar, but diminishing lows led to a rise of bullish potential as a rising wedge emerged. Currently testing the bottom boundary of the pattern, the rate will most likely break 114.19, retrace from the trend-line
The US Dollar is trading simultaneously in two ascending channel patterns against the Swedish Krona, as the minor channel is a representation of the rates rebound against the dominant channel pattern's lower trend line. However, the surge has been already twice stopped and reversed by the 23.60% Fibonacci retracement level at 9.0799. The Fibonacci retracement levels for this pair are
The situation on the chart of the South African Rand against the Japanese yen is hard to explain, as two channels have formed a triangle in the middle of another channel. However, the future movements of the currency exchange rate due to that reason are easy to forecast. The currency exchange rate recently rebounded against the combined support level of
The Greenback is surging against the Canadian Dollar in an ascending channel pattern, which has guided the currency exchange rate from the lower trend line of a medium term ascending channel. The channel has already not only broken out of the medium term channel up pattern, but also the rate has broken through the resistance put up by the 38.20%
For the past few trading sessions the Pound has been surging against the Loonie in an ascending channel pattern, which represents the rates surge from a strong support cluster. The support cluster is made up of the lower trend lines of the medium and large scale patterns. On a medium scale the pair was in a falling wedge, which has
Although the title states that there is an ascending channel pattern, which guides the currency exchange rate, the common European currency is showing signs of an upcoming depreciation against the Norwegian Krona. The reason for that is that the pair has hit the upper trend line of the most dominant descending channel pattern. Due to that the medium term channel
The Swiss Franc is trading in a narrow descending channel against the Singapore Dollar. The currency exchange rate recently passed the 61.80% Fibonacci retracement level, which is located at 1.3992. Due to that the closest strong support level to the currency pair is the lower trend line of a large scale ascending channel near the 1.3640 level together with the
An almost perfect channel up pattern has been spoiled by diminishing lows, but sends the same signal as it did before. NZD/CHF is floating mid-pattern and will most likely target the upper boundary of the pattern after the upper trend-line of the newly-sketched falling wedge is broken at 0.7349. We will look for a hitch at the area, but an
AUD/USD has been changing slopes a lot, but managed to climb out of the under 0.72 pit it had entered in December-January. The pair has now stepped into a channel up pattern on the four-hour chart and is approaching the 0.7749 area which has cut upside potential a few times before, meaning that some trouble might be coming up. The
AUD/JPY followed a half-year senior uptrend on the daily chart, but managed to break underneath and start a retracement. A falling wedge, however, signals that the violation might be a false one due to bullish pressures building up inside the pattern. The next upside target is at 86.73, the crossing between the upper boundary of the rising wedge pattern and
The Kiwi is depreciating against the Japanese Yen simultaneously in two channel down patterns. There are no signs of a short term change in the situation, as the pair is heading for the 23.60% Fibonacci retracement level, which is located at 80.34 level. The Fibonacci retracement level on this pair are measured by connecting the 2016 high and low levels.
The common European currency is in an ascending short term channel against the Polish Zloty. However, the pair is not set to surge, as the upper trend line of the long term descending channel pattern has been recently reached, and the currency exchange rate has bounced off of it. Moreover, this fact hints at the possibility of a new medium
The Australian Dollar is simultaneously trading in two ascending channels against the Swiss Franc. However, that does not necessarily mean that the currency exchange rate is set to surge. Recently the pair reached and bounced off first from the medium size pattern's upper trend line and afterwards did the same against the large scale pattern's resistance line. Due to that