Aussie-loonie cross is recovering after a 3 month slide from 1.072 to 0.917. It is worth mentioning in the very beginning that Fibonacci retracements seems to be having significant effect on the pair at the moment—23.6% retracement most likely cause first rebound from the pattern's resistance and 38.2% is responsible for the second one. At the moment it is demonstrating
Pair has already recovered all of the losses that occurred during a sell off on 18-19th of September when it fell from 12.99 to 12.58. Despite some neutrality recently, we expect that the pair will resume movement towards the pattern's support which should be hit at 12.92. Some bullishness (as suggested by the medium term technical) could be expected then
Using the 200-hour SMA as a springboard CHF/SGD managed to end the period of sideways movement. Now the currency pair is decisively moving north, overcoming the resistances it meets. The technical indicators on all three relevant time-frames reinforce the positive outlook, suggesting the bullish potential of the Swiss Franc has not yet been fully realised and will drive the rate
Being unable to rise beyond 0.9067 the currency couple began trending downwards, a tendency that persists for more than 160 hours. A noteworthy fact is that the decline did not develop in a disorderly manner. Instead it was contained by the downward-sloping trend-lines. Fluctuations in the foreseeable future are also expected to take place within these borders, given that the
A robust recovery started on Sep 23 seems to have come to an end, even though four-hour studies are strongly bullish at the moment. The price encountered a formidable resistance area at 1.6429 and after two attempts to breach it looks as likely to slide under the neckline of the double top pattern at 1.6347, an event that should entail
EUR/PLN has been on the decline for more than 350 hours already. During this time period the currency pair has been respecting two bearish trend-lines that together form a channel down pattern. However, while the upper boundary of the corridor has been confirmed on several occasions and may be considered as more or less reliable, the lower boundary for now
Ascending triangles are always providing a great opportunity to make substantial profits in a short period of time. The only thing remains– is to wait until the breakout, and in our case the penetration of any of trend lines will happen not later than September 26. Recently the pair has been highly volatile after Bernanke's comment and then due
A rather short– only 63 bars long channel down was formed by USD/JPY and it seems the tendency will persist. At the moment of writing the pair was changing hands slightly below the 200-bar SMA, and according to the recent performance the pair is experiencing significant difficulties around this level. Hence, if this level is breached, lower prices are expected.
Pair seems gradually recovering the losses that occurred in the end of August/beginning of September. Due to this distinctive move we use Fibonacci retracement in our analysis. At the moment pair is trading in the middle of the trading range (gap between the pattern's support and resistance) which at the moment is 80 pips. There is approximately 30 pips left
Pair is posing for a major move down as this is main presumption behind the Double Top pattern's—pair fails to reach new high and gradually moves back to the prior to the pattern trading levels. It is worth pointing out that Fibonacci retracements could be used in the pattern's analysis—38.2% one is close to the pattern's support and 23.6% one
USD/SEK is currently attempting to reverse the results of the bearish behaviour it demonstrated from Sep 6 to Sep 19. After bottoming out at 6.3079 the currency pair commenced a recovery that is intact at the moment.However, the pace of the U.S. Dollar's appreciation has decelerated lately, since the rate is approaching the 200-hour SMA that may turn out to
If we connect the most prominent valleys and peaks of USD/JPY hourly chart that have appeared since Sep 6 with straight lines, we would get a bearish channel. And even though the parallel trend-lines that are supposedly guiding the currency pair lower have not yet been confirmed on many occasions, there is a good chance this corridor will prove to
Just recently AUD/JPY has breached the 200-hour SMA, opening the way to lower levels, such as 92.12, 91.61 and 90.98. However, we would expect the former support to withstand an initial test, considering that it is formed by the daily S1, four-hour S3 and, most importantly, by the down-trend support line that has retained the topicality since Sep 19.According to
During the past 100 bars the trading range of AUD/SGD has been generally contracting around the long-term moving average for 200 periods, resulting in the appearance of the symmetrical triangle on an hourly chart. Noteworthy is the fact that there is room only for a few bars to be formed until the apex of the pattern is reached, meaning the
Today in the morning the CHF/JPY was moving straight forward to the pattern's support, which is located at 108.14, and currently the pair is changing hands at 108.20– just couple of pips above the key level. As it was said earlier, the pair has been underpinned by the long-term moving average and even in case of a downside breakout, the
Even though a rising wedge pattern was already breached by bears couple of hours ago, the pair is still worth discussing. The trading range was narrowing, while both trend lines were poised to converge on October 5, making a breakout inevitable. However, it happened even earlier. According to the technical indicators on a daily chart, we may expect a throwback,
Euro and pound was in focus of the media in quite of few cases recently which causes few noisy periods with increased volatility. This is reflected in the pattern's quality (being just slightly above the average). On the other hand, we have high level magnitude which offers significant trading opportunities. Due to the mentioned volatility we could not employ Fibonacci
Pair has been in a clear uptrend since the end of July. In two and a half months before that it has depreciated by 780 pips. With the recent (13th of September) attempt to breach pattern's boundaries at 1.4812 pair has recovered almost all of those losses weighing even more on further depreciation of the pair on the grounds of
The Hong Kong Dollar has been outperforming its U.S. counterpart since the beginning of September, but during the latest 130 hours this has been happening in a more orderly fashion, namely within two parallel and at the same time declining trend-lines.
Our pattern-finding widget in the platform has captured the most recent 130 hours of NZD/CAD as those composing a bullish channel, but it seems that the trend-lines may be extended even farther into the past, namely until the very end of August, when the present rally was started at a low of 0.8131.
Despite the disagreeing technicals, the current set-up on an hourly chart of EUR/GBP is supposedly in favour of a robust rally.
Since Sep 6 CHF/JPY has been in a clear up-trend.
Pair has been in a uptrend for quite some time. But as we can see from a recent pullback, higher levels are still unreachable for the pairs bulls. In this particular case we should highlight major psychological level (September high) at 135 JPY. At the moment it seems very likely that the short term sell off at hand could send
Pair is trading somewhat in the middle of the pattern's boundaries. At the moment is retesting 38.2% retracement (13th to 20th of September move) which caused a minor setback in the end of the last week. At that point pair found support with 23.6% retracement which suggests that the Fibonacci levels should have significant impact on the pair in the