Aussie-loonie offers rather good trading opportunity as at the moment it is trading exactly on the pattern's resistance and we should see the pair either breaching it, either rebounding from it. As technical indicators on aggregate do not give clear signals we could pay attention to the short and long term Stochastic indicator which sends buy signal suggesting that a
Pair has formed a rather orderly Rising Wedge pattern. Pattern's quality and magnitude ratings are well above the average. Trading volume goes well in line with the idea that it decreases before a possible breach. In addition, at the moment pair is trading just slightly below the 2013 high which was reached in the end of June. For the purposes
Just recently, 50 bars ago, USD/CHF has started to show activity that for the most part was directed upwards. Before that there was virtually little or now deviation from the previous close prices. This has led to formation of the upward-sloping channel, although its lower boundary at 0.9290 is currently at risk of being breached, a course of events that
Being unable to push through the support at 104.99, CHF/JPY started to move in the opposite direction, namely upwards. As a result, it formed a rising wedge on an hourly chart. And even though the pattern has been already broken to the downside, there are still ways to make use of it, since the price has not yet gotten far
During the last 190 trading hours the currency pair has been generally advancing forward, while at the same time ignoring the long-term simple moving average that has proven to be unable to stop USD/SGD from moving higher. Now the price is approaching the 200-hour SMA from above in order to regain the bullish momentum it lost near the rising resistance
Pair has depreciated by 400 pips in the course of two days (from first touch point at 1.1747 till the pattern' support at 1.1347). It is possible to incorporate Fibonacci retracement of this move in to the analysis, but they seem not to have any effect after he first rebound from the pattern's resistance (Fibo 23.6% was located there). It
Although aussie-greenback cross is a rather volatile pair due to significant noise in the market lately it is much more so in the length of this pattern. However, because of this the pattern has a much higher magnitude (of movements) rating which suggests that there is a high chance on achieving significant returns while trading on momentum when the pattern
After a false breakout a day earlier, bulls are making another attempt to penetrate the resistance line. Even despite a slight retracement to 3.218, the pair is likely to jump above the resistance line, as indicators on 4H chart are sending strong "buy" signal. However, in a longer period, the price may move back in pattern's boundaries and even form
Following several retests of the support line, EUR/AUD is continuing channelling upwards for more than 100 already, and the tendency is expected to persist. This idea is supported by aggregate technical indicators on 1H and 4H charts, which are pointing at the appreciation of the single currency against the Aussie. However, the majority of traders (74%) are opening short positions,
While being underpinned by the long-term moving average (200 bars), the U.S. Dollar has been generally appreciating vis-à-vis its counterpart from Singapore. It is also important to notice this was happening at an increasing rate.As a result, USD/SGD charted a rising wedge, meaning that the rally is approaching a state of exhaustion and is therefore subject to a sell-off in
Following a failure to exceed the resistance at 0.9280 the Australian Dollar entered a channel down that is already 100 bars long. Even though the corridor is fairly narrow—a little more than 100 pips wide, none of the trend-lines were disrupted by the price action during this period. Consequently, we may expect the currency pair to remain within these boundaries
Throughout the most recent 100 hours USD/SEK has been unable to surpass the rising trend-line (currently at 6.6250), nor the currency pair was willing to fall beneath the lower boundary of the bullish corridor (currently at 6.5086). Accordingly, the outlook on the price is positive, although in the near term it is likely to be undergoing a bearish correction, considering
It might not be the case that USD/HKD is forming a rising wedge while being in a major up-trend (one of the pattern's requirements), but during the last 40 hours the currency pair has been consistently fluctuating within two converging trend-lines and thereby gradually reducing the trading range.Now the price is facing a cluster of resistances that is likely to
A 348-bar long double bottom was formed by USD/NOK on July 7, however, the pattern is likely to be completed soon, as there have been several false breakouts recently. At the moment of writing the price stood at 5.945, just 180 pips below the resistance line. As the market sentiment is almost equal, the pair is likely to be driven
On July 23 the pair touched a 23.60% Fibonacci Retracement and since then the pair has been moving to the north and has even formed a rising wedge. During the last several hours there were several attempts to break the support line, however, bears were not strong enough. Currently, the market sentiment is not clearly marked (52% bullish), and
Pair has been very volatile in the most of the pattern's length, but is showing much more smoother trading sessions lately. After a prolonged move along the pattern's support pair reached pattern's resistance in the course of 3 days and at the moment is trading out the recent rebound from it. It might be that we will see the pair
Franc-yen cross has became much more volatile recently after it moved away from the course it has been in since 24th of July. Recent rally was cause by a bullish impetus pair received from 200-bar SMA and as short and medium term technicals suggest it should continue further. There is a chance that this whole volatility is caused just due
Over the past 340 bars EUR/TRY has been trading between a former horizontal resistance (now support) line and a rising line (both in force since Jul 9). Just recently 2.5648 has been breached, which allowed the price to surge up to 2.5884. However, the pair is presently undergoing a downward correction from this local high and is likely to find
Even though EUR/CAD has recently fallen beneath the 200-hour SMA, it managed to regain the bullish momentum and form a channel up on an hourly chart. The main support the pattern provides is at 1.3655, a level that is also reinforced by the daily S1 at 1.3644 and the 200-hour SMA at 1.3634. Toughness of the zone implies a positive
At a low of 4.2041 EUR/PLN started a robust recovery that pierced through the 200-hour SMA. Since then 40 bars have already been formed, and it appears now that the price has been respecting two parallel rising trend-lines during this period. Right now the currency pair is probing the lower boundary of the pattern at 4.2540, this support is supposed
Despite the fact that the upper trend-line was breached once, the channel down on an hourly chart of GBP/NZD seems to be a reliable pattern. At the moment the major resistance is found at 1.9143, a cluster of various studies, including but not limited to the 200-hour SMA, daily R1 and a down-sloping line. Accordingly, we would expect this area
After falling from 12.494 on July 24, we have been observing the depreciation of the Hong Kong Dollar against the Japanese Yen. However, supported by better-then-expected data from the U.S. the pair surged to pattern's resistance, however, bulls was not able to penetrate this level and close above. However, the upcoming FOMC meeting is also expected to add some turbulence
After forming a double bottom pattern, AUD/USD decided to form another pattern, and this time it is a rectangle pattern. The reason it can be worth describing is that the price is approaching the support line, while just around 20 pips below traders can find almost a 3-year low. According to aggregate technical indicators, the pair is likely to breach
Euro-zloti is signalling recovery of the pair. This is main underlying assumption of Double Bottom pattern (pair fails to reach new low and gradually returns to the previous levels). At the moment it is trading at the pattern's resistance, therefore we could expect some bearishness, most likely in the form of price correction. However, as short and medium term technicals