The most popular currency pair is heading for the best run of gains since November 2013. The advance has been developing within the trend-lines of a 150-bar long channel up pattern that originated at a two-month low of 1.3476. Now the currency couple is trading at a three-year high of 1.3948 and considering that it has already breached the daily
Early March the U.S. Dollar commenced a rebound from a one-month low of 101.20 against the Japanese Yen; however, the advance was halted at an eight-week high of 103.76. Since then, the pair has been declining, being trapped by boundaries of a 74-bar long bearish channel. At the moment the currency couple is trading slightly below the daily pivot point at
A rare falling wedge pattern was formed by USD/CHF on January 21, when the pair refused moving above 0.9156 and plunged back to the level where the 200-period SMA currently trades. While the pair is trading almost at the level of the lower pattern's boundary, a penetration of 0.8739 is unlikely, as technical indicators are neutral, while 72% of traders
Almost 200-bar long rising wedge was formed by AUD/CAD on January 23. Though the pair is far away from the climax point and the breakout is unlikely to happen any time soon, the price is approaching a parity level that is always posing significant difficulties for bulls. Technical indicators on a 4H chart are suggesting the pair will move back
Although its measures of quality and magnitude are fairly high right now, the presented channel up pattern has not yet been fully formed—its upper boundary needs at least one more confirmation. This requires the currency pair to rise up to 1.78 in the nearest future.And even though the hourly and daily studies favour a bullish outlook, EUR/SGD may fail to
AUD/NZD resumed the decline early February after a slightly more than four-figure bullish correction in the overall bearish market. Considering that the currency pair has formed a channel down pattern as a result, the sell-off is likely here to stay. This view is also supported by the technical indicators on all presented time-frames—most of them are currently giving ‘sell' signals.However,
Having reached a four-year high of 6.3146 early February, the U.S. Dollar commenced a retreat against the Norwegian Krone. A decline was steep, pushing the pair to a six-month low of 5.9542 during less than a month. However, the drop may be halted in the days to come as the pair managed to regain strength after diving below the lower
A 247-bar long triangle shaped by USD/SGD in the last days of February and first weeks of March is on the verge of being broken through. The currency couple approached the upper limit several hours earlier and given bullishness on the market as well as proximity of the apex that is likely to be reached on March 13, we may
A sharp decline performed by USD/SEK in second part of February has led to a formation of the broadening falling wedge pattern that is around 130-bar long now. Recently, the currency couple has bounced off a six-month low of 6.3617 and now it is likely to target the 50-hour SMA at 6.3792. Market sentiment also props up this idea, with
The single European currency has been in the down-trend against kiwi since mid-February and in the last day of the month it started to shape a channel down pattern that pushed the currency couple to a four-month low of 1.6197. Now the pair is retreating from its short-and long-term SMAs at 1.6376/0 that have recently intersected forming a ‘death cross'.
The EUR/NOK currency pair has been strongly bearish February 4, when the pair refused moving above 8.5274. Since then the pair has lost more than 3,000 pips already, and according to 74% of Dukascopy traders, the tendency will persist. Even so, bulls made an attempt last week, with the price being pushed higher by ECB's comments. The rally, however, was
EUR/AUD is trying to break pattern's resistance, opening the road to a recent high at 1.5827. Nevertheless, after an attempt to break 1.5500 level, bulls refused going any higher and the moment of writing the pair was trading at 1.535, bounded by a 200-period SMA and a weekly PP. Dukascopy traders, however, are making their bets the pair will try
For the past 70 hours NZD/CAD has been trading in a distinct up-trend, covering in the process 170 pips. However, it seems the rally proved to be unsustainable, as evidenced by a breach of the lower boundary of the channel at 0.9432. Consequently, the kiwi is now set to decline even further, through the daily pivots down to the tough
There is still scant evidence of AUD/CHF trading within the boundaries of the bullish channel, since both trend-lines forming it were respected by the market only on several occasions. However, if the near-term technical indicators turn out to be correct and the currency pair breaches the resistance near 0.7950, there will be a good opportunity for the Aussie to re-test
The most traded currency couple has shaped a descending triangle pattern that despite being relatively short, only 76-bar long, is worth examining now as the pair is unremittingly approaching the apex. EUR/USD is likely to reach this mark on March 12, meaning that the breakout is looming. At the moment, market players are moderately bullish on the pair, with almost
After reaching the highest level since at least 2009 of 11.4005, USD/ZAR commenced a gradual retreat that eventually pushed the pair into a bearish corridor restricted by two steadily converging lines. Currently, USD/ZAR is vacillating at the 200-hour SMA at 10.7489 that is preventing the pair from decline to its 50-hour SMA at 10.7358. However, examining closer the location of
Since early February, the U.S. Dollar has been losing ground against the Danish Krone and in the last days of winter it embarked upon shaping a wide channel down pattern that now is almost 150-bar long. The downside pressure, subject to which the pair has been for more than a month, has recently pushed USD/DKK to a three-year low of
Having approached a five-year high of 13.5999 in the beginning of the year, the Hong Kong Dollar halted its appreciation against its Asian counterpart and slid to almost a two-month low of 12.9768. After that, HKD/JPY has been paring losses and commenced formation of the channel up pattern late February. At the moment, the currency couple is struggling at the lower
After touching a high of 0.9547 on May 15, the loonie began losing its ground versus the Swiss Franc. Despite the fact the pair lost more than 1680 pips already, technical indicators on a 4H and daily chart are still suggesting the pair will continue moving downwards. This week the pair has already touched pattern's support, and with only 40
Since the beginning of this year gold has been steadily appreciating against the greenback, performing a 17,230-pip rally. Bullish movement, however, is running out of steam, as recently the pair was unable to move above weekly R1 and pulled back to weekly S1. Until the pair is moving in a 2,700-pip range between these level, the outlook is unclear. Technical
Initially, we considered that AUD/CAD is in the process of forming a bullish channel. However, instead of extending the rally up to the monthly R2 at 1.0244, the currency pair stopped advancement much earlier, meaning the upper trend-line is less sloped than the lower one.Consequently, there is a good chance that the Aussie will now fall down to a formidable
Although the first part of February EUR/TRY remained quite flat, in the end the Euro started to outperform the Turkish Lira, eventually leading to formation of the upward-sloping channel.Given that last Friday the currency pair bounced off the lower edge of the corridor, it is expected to remain on a bullish path at least until the resistance near 3.11 is
The Australian Dollar has been in decline for the past three years. However, right now we would rather focus on the last 150 days, as during them the currency pair has been trading between two parallel down-trends.At the moment the exchange rate is fluctuating just below the upper boundary of the channel, meaning there are significant down-side risks. Additionally, most
Since the very beginning of the year, the single European currency has been on the rise versus the Canadian Dollar. In mid-January, the pair started to shape a channel up pattern that took the currency couple to a four-year high of 1.5443. The pair now is vacillating slightly above this mark and above the pattern's resistance, adding to signs that