Although Channel patterns in general aren't the most exciting, but they offer great trading opportunities. In the case of this specific pattern we can see that it behaves rather well in the pattern's boundaries, we get rather clear indications abound the upcoming/ongoing bounce from the pattern's support and the slope of the pattern is rather steep, what is reflected in
Pair has formed a high quality and magnitude pattern which at its own makes the pattern worth of attention. In addition, currently the pair is trading on the pattern's resistance after a pullback from the 200-bar SMA. It is worth mentioning that pullback is a phenomena often met in triangle patterns. In approximately 70% of the cases eventual breakout direction
After diving beneath its 200-bar SMA, the pair remained under this significant level that started to act as the strong resistance. However, on August 13 EUR/CHF managed to jump above its 200-bar SMA to approach the upper trend-line of the pattern. Having touched the upper boundary, the pair reversed its direction, falling below its 200-bar SMA and moving close to
EUR/AUD breached its 200-bar SMA in mid-April that initiated a long upward movement of the pair. The currency pair was trading between two upward-sloping lines throughout the last four months, crossing the 200-bar SMA only once and recovering fast after falling below this important level. EUR/AUD is likely to continue its bullish trend, but daily resistances at 1.4918 and 1.4959
A rise above the 200-bar SMA fostered an on-going upward trend of the pair that was faltering between the pattern's trend-lines that are currently at the levels of 1.7526 and 1.7030. At the moment, GBP/AUD is struggling at its daily support at 1.7314. In case the pair drops below this level, it is likely to meet a bunch of support
USD/JPY was initially trading above its 200-bar SMA that acted as a strong support zone for the pair. However, a plunge below its 200-bar SMA on July 26 triggered a deep sell-off. Having fallen to a one-month low of 96.57, the pair regained strength and attempted to consolidate above its 200-bar SMA, but USD/JPY did not succeed in its endeavour
Pair has been appreciating for more than 4 month now. It might be that this pattern marks a clear turnaround after the pair depreciated from 2.11 on October , 2008, to 1.16 on August, 2008. In support for this comes the fact that we have a 3 year high (1.4995) as the pattern's high. Short term technicals suggest that pair
Pattern marks the start of a mildly bullish trend on the pair after a week long sell off from 4th to 11th of August. Short term technicals give neutral aggregate outlook suggesting it pair should remain depressed under the pattern's resistance for some time. We have contradicting readings from the medium and long term technicals. Medium term technicals suggest that
GBP/AUD has been showing a very stable performance, appreciating since February, and adding 0.54% to its value today. However, the pair is facing a bunch of strong resistance levels– three-year high and pattern's resistance, meaning bulls may face difficulties after some time. In addition to that market sentiment is strongly bearish, suggesting market is overbought already and a short retracement
Euro– Singapore Dollar cross has been showing similar performance to what we've seen in GBP/AUD, as after a long period of appreciation the pair is approaching December 2011 high. A recent choppy session indicates that bulls are struggling to push the pair higher. Nevertheless, tools of technical analysis are pointing at further appreciation of the pair, as 70% of all
After bottoming out at 8.6196 the currency pair reversed the direction and took a course north towards the 200-hour SMA that was successfully breached. This long-term moving average has served since then as the reliable support, preventing the continuously occurring dips from extending—they usually followed the attempts of EUR/SEK to jump over the bullish resistance trend-line, currently to be found
Strong support in the face of the 200-hour SMA made it possible for the currency pair to recover. During the past 90 hours the price was particularly bullish, gaining more than three figures. This was the period when GBP/CAD started respecting two parallel rising trend-lines that are now the boundaries of the channel up we see on an hourly chart. However,
The currency pair was gradually retreating after tumbling below its 200-hour SMA that now represents the strong resistance, blocking any upside movements of USD/SEK. Meanwhile, USD/SEK may see its rate quickly falling further, as the pair moves closer to an intersection of the pattern trend-lines and is trading below its 200-hour SMA. However, the pair may seek support at the
Bullish trend was observable over the last 72 hours, as USD/ZAR vacillated between two upward-sloping pattern lines that represent the resistance currently at 10.1801 (daily R2) and the support at 10.17088 (daily PP). At the moment the pair is trading close to the pattern's support level, and in case the line in the sand is breached, an accelerated decline towards
During the last 137 hours CHF/JPY has been moving in channel up pattern's boundaries, however, just couple of hours ago bulls tried to penetrate the upper trend line, and at the moment of writing the pair was changing hands just 11 pips below it. In case the bar will close above pattern's resistance, bulls will receive a strong "buy" signals.
A 228-bar long triangle is moving to its apex and soon we would see a breakout in any direction. In theory, just before the breakout, the volume should go down significantly, while the moment of penetration of any of the trend line is usually followed by a hike in trading volumes. While aggregate technical indicators on three different timeframes are
Channel type pattern's are not the most exiting and usually give just the general impression of what direction the pair is going to. This case is a bit different. First of all, the pair has already advanced above the 2013 high and at the moment is trading in the highest level since December, 2011. Secondly, after breaching the 2013 high
Aussie-greenback is posing for a major, 200 pip depreciation. This is the main proposition of Double Top patterns—pair fails to reach new high and returns to the previous levels after that. Although we can observe a minor rally recently it is highly unlikely it could evolve in to something more. Short and medium term technicals give strong support for this.
The channel up on an hourly chart of XAU/USD has been evolving throughout the last 215 hours, since Aug 7, when the price reached a bottom at 1,273.23. At some point of the pattern's life, on Aug 15, the formation was at risk of being breached, but the break-out proved to be a false one and did not turn into
The last 180 hours USD/HKD has been trading below the 200-hour SMA and at the same time forming the bearish channel. Given considerable length of the pattern, its edges should be fairly reliable, but we would rather apply this characteristic only to the upper trend-line, since it has received significantly more confirmations than the lower one.Right now the currency pair
EUR/CHF has been on the decline since Aug 15, but the Euro started to depreciate in an orderly fashion 50 hours ago, on Aug 16, while attempting to breach the 200-hour SMA.In the end this endeavour turned out to be successful and the pair continues trending downwards. The closest notable area it is likely to encounter is at 1.2304, where
Even without the bullish pattern itself the near-term outlook on the currency pair is positive, being that hourly and four-hour technical indicators are largely giving ‘buy' signals, the daily ones are mixed at the moment. Moreover, USD/TRY has recently overcome and then confirmed the 200-hour SMA as the support, adding to the pair's upward potential.A recovery from the moving average,
Pair is signalling for a major, 300 pip (from current to the prior to the pattern levels), recovery. This is the main preposition by the double/Triple bottom patterns—pair fails to reach ne (relative) low and returns to the previous trading levels. However, the Stochastic indicator, which predicts major turning points, and medium term technicals on aggregate send SELL signal suggesting
Pair has been narrowing trading range since the middle of June and formed a Triangle pattern. It has a well above the average quality and magnitude ratings which identifies great trading opportunities., both on planned movements and on volatility. At the moment the pair is trading in the last 20% of the pattern's length. As a consequence we should be