The US Dollar is simultaneously trading in two channels against the Swedish Krona. On a larger scale the pair is in an ascending channel pattern. On a medium scale the pair trades in a descending channel, which is a representation of the pair's decline from the larger pattern's resistance line to its support line. However, the support line has already
GBP/CAD entered a flattish motion south over the last couple of weeks, sketching a descending channel on the way. The pattern shows no signs of weakness, meaning that we will look for the rate to maintain the bearish path both long and short-term, setting the bottom boundary as the next target at 1.6476. Immediate support lies at 1.6527 and then
Despite the sudden dip induced by a technical crash, NZD/CHF acted according to the rising wedge it traded inside of before the event by sinking below the bottom boundary. The pair is currently attempting a slip below the weekly Pivot Point of 0.7093 and we do not expect the level to hold, opening up 0.7086 and 0.7081 for tests. In
The US Dollar continues to surge against the Norwegian Krona in an ascending channel patterns. By patterns is meant the fact that there are three ascending channels of various scale. However, traders might be most interested how a short term channel formed as a result of the rates efforts to break out of a medium scale pattern. The short term
If one maps all of the channels, by drawing all of the lines connecting tops and lows of the Australian Dollar against the Japanese Yen, it is hard to understand what is actually happening. However, the situation is not unusual, as there are three channel's, which have to be marked to understand the rate's movements. First of all on a
A channel up in USD/CHF held steady for about a week before breaking Thursday morning. The next target now lies at 1.0235 and it appears that the pair will not be attempting a retracement more prominent than the miniature one it underwent immediately after the break below the pattern. In case it does, however, require some more consolidation, 1.0262 and
GBP/JPY sketched a bottom boundary to the downtrend of two days, creating a channel down to guide future movements. While the bottom boundary of the pattern in not particularly strong, we expect the trend to continue, setting the next target at 142.27 where the lower boundary lies. Short-term SMAs have conclusively stepped under the long-term ones, which suggests that the
The Canadian Dollar is simultaneously in two descending channel patterns against the Hong Kong Dollar. The smaller pattern formed in the borders of the larger as a result of a bounce off from the larger scale descending channel pattern's resistance line. The rate fell so drastically in the 12 hours after reaching the resistance line that the smaller pattern formed
The South African Rand is trading simultaneously in three channel patterns against the Japanese Yen. In addition, the two medium sized patterns are forming a smaller triangle. To tell apart the medium sized channels they have to be explained. One is the old one, which was the rates ascent to the large scale channel's resistance, and the second one is
EUR/JPY consolidated the flattish surging motion it had taken up earlier inside the bounds of a symmetrical triangle pattern. The pair has recently broken the formation and undergone a somewhat appropriate retracement and is currently on a downward sloping motion which is likely to be cut rather sooner than later and possibly make 123.40 the next target. The daily Pivot
The EUR/HKD market has been ranging for a while now, going from a wide range motion to a tight one over the last week or so. Resistance lies steadily at 8.1261 and the pair has been sticking to it in its latest movements. The most recent floor lies at 8.0979 and it now appears that the rate is making its
USD/CAD entered an ascending channel pattern about a week ago and is currently repeatedly testing the bottom boundary which could eventually let the pair slide. A newly sketched channel down pattern could be one to break the senior pattern immediately as the rate has reached the upper boundary, and that would set 1.3470 as the next ultimate goal. While it
GBP/USD left three-month highs to form a falling wedge which now suggests that a surge is up next. The pair has been sticking to the upper trend-line at 1.2275 for almost two days already, which means that another journey to the bottom trend-line is unlikely and the pair will go on to break the pattern to the upside. We could
GBP/CAD entered a consolidative phase with risk skewed slightly more to the upside within a symmetrical triangle formation and is now sticking to the upper boundary at 1.6608 which brings more ground to the rising scenario. We will look for a breakout to the upside followed by a hitch at 1.6621 and then 1.6660 with one of the levels triggering
Following a dip into yearly lows, EUR/AUD sketched a channel up pattern which casts little doubt that the uptrend will continue for now. The pair is, however, currently repeatedly approaching the bottom trend-line at 1.4509 and any stickiness at the boundary could lead to a bearish breakout. Otherwise, we see a bounce form the area and a continuation inside of
The Canadian Dollar is simultaneously trading against the Swiss Franc in two patterns. On a larger scale the currency exchange rate is depreciating in a descending channel, which is headed for the 23.60% Fibonacci retracement level, which is measured by connecting the 2016 high and low levels. In the meantime, the currency pair is also fluctuating in an ascending channel
The US Dollar is trading against the Swedish Krona simultaneously in three channel patterns. The situation is simple. On a large scale the Greenback is surging against the Krona in an ascending channel pattern. On a medium scale the rate is depreciating from the large scale pattern's upper trend line to the lower trend line in a simple channel down.
Most recently the EUR/SEK currency exchange rate traded in a descending channel on a medium scale. However, that has ended, as the pair reached a larger scale pattern's lower trend line and rebounded. As a result an ascending channel has formed and revealed its borders. It is likely that the pair will surge in accordance with the newly formed pattern
The common European currency is in an ascending wedge against the Norwegian Krona. However, on a larger scale the currency exchange rate is in a descending channel. Moreover, the currency pair recently hit the large scale channel's upper trend line at 9.1150 and bounced off from it. In addition, the pair recently moved below the 23.60% Fibonacci retracement level at
The AUD/CAD currency exchange rate is not a case of complicated and webbed various patterns upon patterns. The pair is in a simple descending channel pattern, and there are no other patterns influencing the currency rate. However, too bad that nothing is that simple, as there are very significant Fibonacci retracement levels affecting the currency pair. The retracement levels are
The Kiwi trades against the Swiss Franc simultaneously in three patterns. On a large scale the rate is in a rising wedge. On a medium scale the pair fluctuates in the borders of a descending channel. Both of these larger patterns are actually almost horizontal making the pair a bad long term bet for anyone, but their trend lines still
The Singapore Dollar has been trading in a descending channel against the Japanese Yen. Meanwhile, the currency exchange rate is also trading in a larger scale ascending channel pattern. Most recently the pair reached the large scale channel's lower trend line and bounced off of it. Due to that it can be assumed that the pair is set to form
The common European currency is trading in a short term ascending channel against the Australian Dollar. However, in the meantime the currency exchange rate is in a larger scale slowly ascending channel, and recently the pair has reached and bounced off from the large scale channel's upper trend line. In accordance with the dominant channel the rate is set to
Silver is a metal which has not been reviewed for some time. Due to that factor and the latest developments in the metal's movements a review of the commodity price's movements needs to done. First of all the previous ascending channel was broken by the combined effort of the 200-period SMA and 50.00% Fibonacci retracement level near the 17.25 mark