A formation of the rising wedge pattern by EUR/CHF started on August 20, a day after the pair fell below its 200-hour SMA that had served as a strong support zone for almost a week. The pair hit its 22-day low of 1.2282 on August 30 and commenced an upward trend until a three-week high of 1.2402 enervated the pair
Another GBP cross is moving to the north, indicating the latest weakness in British currency. However, GBP/NZD currency couple is now facing a strong support from the 200-bar at 1.955, and according to the performance of the last 7 4H bars, it would be extremely difficult for bears to push the price lower. Moreover, market sentiment is not clearly
After appreciating for 100 bars, the pair has reached 1.6514, hitting the highest since February 2010. Since then the pair began a sideways movement and currently trading at 1.63. Regarding the possible outlook it seems that in the short term the pair will drop up to the pattern's support, as indicators on 4H chart are sending "sell" signals, while 61%
Despite being the same type of pattern as in aussie-greenback cross we have significantly different situation in the market. Due to the much smaller slope the traders cannot expect rapid returns in a short time, but to plan longer term trades. Quality rating is also significantly lower, mainly due to the erratic behaviour of the pair in the last few
Pattern itself captures whole recovery of the pair after a 11 day depreciation from 0.923 to 0.889. Due to the rather steep slope if the pattern, especially it's support, the pattern ahs a very high magnitude rating which predicts significant gains in short periods of time. At the same time, pattern's quality indicates that pair is not keen for erratic
Pair has been narrowing it's trading range after it hit 133.7. Pressure coming from this important psychological level most likely kept the pair at bay in the length of the pattern. Despite the fact that a distinctive short term rally and long term trend led to the pattern, Fibonacci retracements does not seem to be playing any role. It is
While fluctuating between two downward-sloping lines, the pair dropped from 10.4006, a peak reached on August 23 that provoked a dive under 200-hour SMA, to the mark of 10.2171, near which the currency couple is trading now. Such factors as trading in the bearish pattern and expectations of a further decline (100% of market players bet on the depreciation of
GBP/CAD was gradually appreciating until it touched the highest level since February 2010 on August 23 the mark that sent the pair to the pattern's support at 1.6176. The pair bounced off this important support region and jumped above its 20-bar SMA but failed to remain at this level and dropped to almost the four-hour support at 1.6260 and may
Having surpassed its 200-hour SMA on August 28, the currency couple rallied to the seven-week high of 5.6776; the pair came off this level to move to the south; however, the downside pressure weakened and the pair managed to reverse its direction to reach almost an eight-week high of 5.6928 on September 6. After that, USD/DKK went down and dived
USD/SGD started its upward trend on July 26, when the pair broke through its 200-bar SMA. The currency couple vacillated within a rising wedge pattern during the last six weeks until it successfully attempted to cross the lower boundary of the pattern on September 6; this move is likely to provoke a sharp depreciation of the pair in the days
Growing speculation the Federal Reserve could start tapering its stimulus programme later this month have pushed the most traded currency pair lower, as demand for the U.S. Dollar rose. At the moment of writing, the pair was trading at the seven-week low– at 1.31 and in case this level will be breached, the next stop could be found at 1.3079–
Another channel down was formed by GBP/AUD on August 29, when the pair faced difficulties around 1.744. Just recently, bulls tried to penetrate the resistance line, a move, which will mean and end to the downtrend, however, bears pushed the pair lower. During the last 3 trading days the pair has already lost 133 pips, and according to technicals on
After touching 1181 on June 28, gold has started to recover against the U.S. Dollar. Currently, the pair is trading at 1383 and it seems that bears will be able to push the pair closer to the support line. Even though market sentiment is slightly bullish (66%), strong demand for USD and aggregate technical indicators on 4H chart are pointing
The pair has been facing a strong buying pressure since it surpassed its 200-bar SMA on August 2, the level which was breached only once during the last two months. GBP/USD continued its rally until it met an important resistance at a two-month high of 1.5717 that sent the currency couple to its short-term SMA currently at 1.5592. Despite trading
A rising wedge pattern started on August 12 and lasted until September 5, when AUD/NZD broke through the pattern's support, as a surge to more than two-month high of 1.1660 on September 4 provoked a sharp decline that took the pair below this support. Nevertheless, traders are bullish on the pair, with 67.74% of them betting on an appreciation
NZD/USD has been in an uptrend for more than four days, vacillating in a narrow corridor shaped by two upward-sloping lines. Although, on September 4, the currency couple touched a two-week high of 0.7928, it did not manage to consolidate at this level and dropped to the pattern's lower boundary at 0.7858, a stab to which fuelled a rally to
A rise to the highest level since November 2010 on August 22 was the starting point for a channel down pattern, within which EUR/NOK was retreating until it hit a two-week low of 7.9843 on September 4 that prompted a slight appreciation towards its 200-hour SMA at 8.0423. However, the pair failed to break through its this level and now
A formation of the pattern started 16 days ago; during this period the pair managed to consolidate above its 200-hour SMA and approach the apex of the triangle. EUR/TRY has recently broken through the lower trend-line of the pattern, implying that a further movement to the south, where the currency couple will face a region of support lines at 2.7021/6975,
USD/PLN was faltering above its 200-hour SMA over more than a week, as two upward-sloping pattern's boundaries were alleviating both selling and buying pressures on the pair. Now USD/PLN is vacillating above its daily pivot at 3.2414 and may rally to the next resistance zone at 3.2573 (daily R1), above which at 3.2703 the next resistance level can be found.
The precious metal was forming a channel down pattern during more than a week. Having reached a three-month peak of 1434.14 on August 28, XAU/USD was gradually retreating until it touched an one-week low of 1374.81 that gave an impulse for appreciation, but the advance appeared to be short-lived, as the pair plunged below its 200-bar SMA and is trading
EUR/CHF started to trade in a narrow corridor shaped by two upward-sloping lines on August 30, when the pair plunged to a two-day low of 1.2283. After that, an accelerating advance took the currency couple above its 20-and 200-hour SMAs to more than a two-week high of 1.2368. Currently, the pair is attempting to surpass the resistance at 1.2362 (four-hour
Pair has been in a noticeable uptrend since the middle of June, but legitimate Channel Up pattern started forming only in the end of July. Fibonacci retracements (19th to 28th of August move) seems to play significant role in the recent developments of the pair. 23.6% retracement acted as resistance form 28th to 30th of August and as a support
Greenback-loonie cross is posing for approximately 200 pip depreciation. It is the main implication behind the Double Top patterns—pair fails to reach new (relative) high and gradually returns to the previous trading levels. We have observed a rather sharp, 65 pip, sell off in the last 8-12 hours and we should see a minor bullish correction due to this (bounce
A channel up pattern by GBP/USD started almost two months ago, when the pair surged from 1.481, currently trading at 1.56. On August 30 the pair moved very close to pattern's support, however, bears were not able to penetrate this level and the pair bounced back from the lower trend line. The pair's latest performance is suggesting is will continue