Starting from Nov 8 the currency pair has been in a distinct down-trend and has covered nearly four figures since then. However, the support at 0.8851 managed to withstand two attempts of USD/CHF to extend the decline, meaning there is a double bottom on the chart.Considering that the key resistance (neck-line) at 0.8918 implied by the pattern has already been
The Canadian Dollar has been rallying against the Japanese Yen since early November; a climb was performed within the limits of the rising wedge pattern that is 164-bar long now. While fluctuating between two gradually converging lines, the pair managed to attain a five-month high twice; the most recent stab to this peak led to a retreat to the 50-bar
An appreciation of the common currency against the Swedish Krone started in mid-September; however, the pair commenced to shape a channel up pattern only in early November when it managed to expedite the pace of its advance. Now the pair is on the downside, retreating from the pattern's resistance it touched several days earlier. Technical data suggests the pair is
A 312-bar long rising wedge pattern formed by USD/ZAR started in the end of September when the pair was on its way to recovery after a retreat from a five-year high hit in the last days of August. Currently the pair is trading above its 50-bar SMA, albeit slightly. However, a breach of this important level is not considered to
USD/HKD performed a sharp decline after it touched a three-day high on December 11. The slump was developed in the corridor of two downward sloping lines that act as boundaries of the 112-bar long channel down pattern. The currency couple has recently attempted to breach the upper limit of the corridor but the 200-hour SMA prevented this from happening and
The Aussie is considered to be at an "uncomfortably high" level by the RBA even despite strong downside move that started in October. The pair is however, approaching a strong support at 0.89 and bears will need a strong fundamental and technical support to penetrate this level. Nonetheless, technical indicators on a 4H chart are pointing at a move below
Despite the fact Danish Krone is sold in 70.85% of all cases across the boars, the USD/DKK cross is still depreciating. Moreover, the pair has formed a channel down pattern on November 21 and it seems the downside trend will continue in the nearest future. Though 71.64% of opened positions are long, the pair has been moving sideways
After a failure to prolong the rally that was developed in September and October beyond 0.8544, NZD/USD came under heavy selling pressure that continues to constantly push the price lower. As a result, there is a channel down pattern emerging on the chart that indicates a heightened possibility of a long-term depreciation of the New Zealand Dollar. In the meantime,
USD/SGD confirmed its bullish intentions in the second part of November, when the currency pair respected the 200-period SMA. Since then (already for 150 bars) the exchange rate has been trading between the two rising trend-lines that constitute a bullish channel.Right now the price is approaching the upper boundary of the pattern at 1.2618. There the resistance is expected to
Although the most traded currency couple has been advancing since the early November, it started to shape a double top pattern a month later when it eventually managed to soar above its short-term SMA. Now EUR/USD still is trading above both short-and long-term SMAs despite the fact that it has entered the bearish phase of the pattern and was expected
USD/PLN has been trading lower since mid-November; however, the double bottom pattern was formed later, only in the first days of December. Double bottom patterns usually lead to an accelerating advance of the instrument but this time the climb is delayed as the pair is trapped between its short and long-term SMAs. The 50-hour SMA serves as a strong support
Since the beginning of December, the common currency has been appreciating against the Swedish Krone. The advance, being a part of the double top pattern, was paused after the Euro hit a two-year high versus its Swedish peer. At the moment of writing, the pair was trading between the pattern's support line and the 50-hour SMA. In the hours to
EUR/NZD has been climbing since early December, forming the channel up pattern that now is 139-bar long. Recently, the pair has managed to surpass its short-term SMA thus becoming a subject to a noticeable buying pressure that aided the pair to rebound to a two-day high, close to which it is vacillating now. Meanwhile, technical indicators are sending neutral signals
Trading range of CAD/JPY started to narrow in mid-October, following an unsuccessful attempt of the currency pair to surpass 95.90 and a subsequent recovery from 92.90 (it may become the final target in case of a break-out to the downside). At the moment, however, the currency pair is hovering in proximity to the upper trend-line that creates strong resistance at
The currency pair has commenced a distinct recovery on Nov 8, soon after bottoming out at 10.307. However, we would distinguish only the last 80 bars (after a breach of the 200-period SMA) as the ones forming the channel up pattern.Right now the currency pair is trading just above the lower boundary of the corridor, which implies bullish behaviour of
A 58-bar long triangle pattern was formed by USD/ZAR on December 2. Despite the fact pattern's lower boundary is not horizontal, the triangle can be named as a descending triangle as well, as the level of 10.281 represent strong support. While the pair is still trading in pattern's boundaries, the pair is likely to be highly volatile soon, as
After a 3600-pip movement since late October, USD/NOK currency pair paused and since that time has been trading in a 1600-pip move. Meanwhile, bulls have almost penetrated pattern's resistance on December 12, however, the price pulled back and at the moment of writing the price stood at 6.1441. The short-term outlook for the pair is bearish, as 61% of traders
A rise to a five-month high in the second part of October provoked a sharp decline of the Australian Dollar versus its U.S. peer; the drop has been performed within the boundaries of the channel down pattern that took the pair to almost a four-month low in mid-December. The pair is expected to continue the current trend given a moderate
The single currency has been strengthening versus the Danish Krone since late November when the pair started to shape a channel up pattern that now is 297-bar long and has both quality and magnitude above average. Recently, the currency couple has attempted to breach the lower limit of the pattern but failed to do this as the pattern's boundary is
Since early December, the U.S. Dollar has been depreciating versus the Polish Zloty that has led to a formation of the double bottom pattern on December 6. At the moment of writing, the pair has just bounced off a recent low that is likely to result in a sharp appreciation in the hours to come. However, the upswing may be
Shortly after EUR/CHF plummeted below its 200-and 50-hour SMAs in mid-November it persistently followed a downward trend that represents a part of the 286-bar long channel down pattern started on November 26. The accelerating decline took the pair to an eight-month low, not far away from which the pair is faltering now. Market sentiment is moderately bearish, with 63.96% of
The single currency has been appreciating versus the Turkish Lire since late November, and has formed a rising wedge pattern, which, however, is moving to its apex. While both trend lines are still far away from converging, bears were able to penetrate the support line, and at the moment of writing were testing the 200-hour SMA. In case they will
The single currency has been appreciating against the Singapore Dollar since April, and so far the pair has rallied almost 1500 pips. In November, however, the pair pulled back and now with a fresh bullish impetus is refreshing earlier highs and climbing to the highest level since 2011. In a shorter-term the pair, however, is likely to pause, as
Although at the end of November it seemed that USD/CHF will fail to penetrate the long-term moving average, eventually the currency pair crossed the tough support and during the next 70 bars formed a bearish channel.Just recently the price has bounced off the upper falling trend-line at 0.8893, meaning the current downward momentum is highly unlikely to be exhausted until