The Singapore Dollar has been depreciating against the Japanese Yen since the middle of December. In addition the currency exchange rate is highly affected by the Fibonacci retracement levels, which are measured by connecting the 2016 high and low levels. However, the retracement levels have shown that they lack enough strength to force the pair into a move, which would
The common European currency is trading in a short term broadening ascending wedge against the Swedish Krona. In the meantime, on a medium scale the pair is in a descending channel, and the wedge is a representation of the pair's rebound from the lower trend line of the channel. Most recently the currency exchange rate found support in the wedge's
The US Dollar has formed a short term descending triangle against the Japanese Yen in the borders of a medium term descending channel pattern. Most recently the currency exchange rate has once more bounced off the lower trend line of the triangle pattern. It seems that a breakout is about to occur soon. As on a larger scale the currency
The Greenback simultaneously trades in two descending channels against the Polish Zloty. Most recently the currency exchange rate reached the lower trend line of the dominant channel. That indicates that a rebound is about to occur, and the Buck is set to regain some of its losses. In the meantime, the currency pair has shown that it is highly affected
The New Zealand Dollar is about to break out of a short term ascending channel against the Swiss Franc. The reason for that is the fact that the currency exchange rate has recently reached the upper trend line of a medium term descending channel pattern. However, previously the currency pair already hit the lower trend line of the large scale
Despite the current uptrend, AUD/CHF has been looking bearish on several time-frames with a couple of rising wedge patterns overlapping between several charts. The pair has shown a slow motion north on the weekly chart, but has lost volume for highs and created a long and extended wedge, while the daily chart showed the pattern to be more volatile. The
AUD/USD showed a major dive over the last couple of months, but managed to recover and almost return to levels of before it broke a flattish ascending channel in November 2016. The pair is now, however, showing signs of weakness again with a double top formation on the hourly chart. The top lies at 0.7693, while the neck-line is located
After posting attacks at the strong 88.68 area, which has proved its significance twice over the last year, CAD/JPY failed at the area once again and changed slopes of the downward trend-line to now sketch a descending channel pattern. The pair has lost quite some momentum and taken up a motion of much lesser steepness than before with a single
In its recent falls the Pound has reached a lower trend line of a medium term ascending channel pattern against the New Zealand Dollar. In accordance with the pattern, the currency exchange rate is about to experience a short term surge. Although, it is possible that the rate breaks out of the medium term pattern, as it was recently forced
The common European currency continues to decline against the Polish Zloty in two descending channel patterns. However, there has been a development, which has created the need for a review of the currency exchange rate. The pair has hit the lower trend line of the long term descending channel pattern on February 3 at 4.2894 mark. As a result the
The US Dollar is regaining strength against the Swiss Franc in a medium term ascending channel. However, the currency exchange rate still remains on a larger scale in a descending channel, which represents the fundamental uncertainty caused by US President Donald Trump. In addition, the currency pair is affected by the Fibonacci retracement levels, which are measured by connecting the
After numerous requests by Dukascopy traders, a review of the yellow metal is published as a Trade Pattern Idea. The bullion is simultaneously in two ascending channels. The medium term channel is a representation of the metal's rebound against the 23.60% Fibonacci retracement level at 1,182.48 and the lower trend line of the long term ascending channel at 1,181.02. Most
The descending channel, which can be observed on the EUR/NOK currency exchange rate, is an exceptional case of a strong decline. Patterns with such short range never last this long, as the descending channel consists of 80 candles. However, it seems that it is coming to its end. The currency exchange rate has been in a large scale descending channel
Just like many other currency exchange rates the GBP/CHF currency pair is simultaneously trading in more than one pattern. Most recently the currency exchange rate bounced off a medium term descending channel's upper trend line. The move was followed by the rates fall below a short term ascending channel's lower trend line. However, this is not surprising, as the currency
While December came with an ultimate low for EUR/HKD at 8.0692, the pair managed to recover in the last couple of months and has now entered an ascending channel pattern to lead it even higher. Bullish pressures additionally stem from the various time-frame SMAs that lie below. The pair is now climbing towards the upper trend-line of the pattern and
Following a break above the yearly high of 1.4314, CHF/SGD proved that is not ready for the area yet with a slip in January. Currently, however, it appears that the pair will be attacking the area once again as a falling wedge was sketched during the downfall. The pair might, however, also turn the wedge into a channel down
On a large scale the Swiss Franc is in an ascending triangle pattern against the Singapore Dollar. Most recently the currency exchange rate reached and bounced off from the upper trend line of the triangle's upper trend line. As a result the pair is once more moving down to the lower trend line of the pattern. For clues regarding the
The situation on the four hour chart for the Singapore Dollar against the Japanese Yen is hard to understand at first glance. However, after deeper analysis one should understand that there are three simultaneously active channels, and among them dominates a descending channel. In addition, the currency exchange rate is highly influenced by the Fibonacci retracement levels, which are measured
What appeared to be a channel down pattern turned into a rectangle after HKD/JPY failed to establish a double bottom at 14.51 and set a trading range with resistance at 14.87. The pair has just bounced off the floor of 14.51 and will be attacking the upper target after tests of 14.65/72 have been executed. The area is likely to
After a year of mostly consolidative movements, AUD/CHF almost touched the 2016 high of 0.7645 once again in January and then proved the levels to be unsustainable by starting a downfall and ultimately entering a small-scale channel down a few days ago. The pair is currently attempting the upper trend-line of the channel at 0.7505 and we will look for
The recent recovery in the Mexican Peso against the US Dollar is represented by a descending channel pattern. However, the pattern is about to become obsolete, as the currency exchange rate has already reached a larger scale ascending channel's lower trend line and rebounded against it. Due to that the Greenback is set to continue its surge against the Mexican
The Hong Kong Dollar is trading in a descending channel pattern against the Japanese Yen. The interesting fact is that this channel is a result of the pair breaking out of a much steeper medium term descending channel. The breakout occurred due to additional support provided by the 38.20% Fibonacci retracement level, which is located at 14.5390. The Fibonacci retracement
Following several alterations of established channel trend-lines, EUR/DKK found some upward sloping bounds in the last few trading sessions. The bottom boundary is strengthened by the 55-hour SMA and was just repeatedly tested instead of the upper one as it was expected. We will now look for a surge towards the top trend-line at 7.4392 with a single obstacle of
AUD/NZD moved as expected on the hourly chart with a break below the triangle we looked at in our previous analysis and confirmed the flattish downtrend in a channel down pattern. Even though it looked like a range will be established, the pair remains steadily inside of the channel and is expected to surge up until it hits 1.0411, the