Another leg to the north is emerging in the 4H chart for the EUR/CHF currency pair. The key short-term resistance to meet is located ten pips below the round 1.11 mark. By succeeding here the 19-nation currency will be in a position to tackle the current high of this month at 1.1109 and the monthly R2 at 1.1122. A way
Outlook for the Aussie is bullish, although some downside risks are going to persist in the foreseeable future. AUD/JPY is expected to test the pattern's upper boundary, which is represented by the May 10 high at 80.693. By violating this reading, the pair will set eye on the second weekly resistance that lies at 81.4186, with the current May peak
There is a potential reversal looming in the four-hour chart of spot silver. The metal has recently failed to extend the rally from the April's low beyond 18 dollars, and the ensuing pattern, a descending triangle, implies a bearish outlook. The key support is at 16.90, represented by the lower boundary of the pattern reinforced by the monthly pivot point.
The general outlook on EUR/CAD is strongly bearish, as the currency pair has recently confirmed the 13-month trend-line broken in mid-April by bouncing off of resistance at 1.48. The downside risks are also increased by the fact that 71% of traders are already long the single currency.Regardless of the mixed technical indicators, the near-term bias towards the Euro is bearish
The single European currency is highly likely to continue tumbling against the strengthening Norwegian Krone. First of all, the pair has recently consolidated under a formidable cluster of support line, which held it under intense upside pressure over the first two weeks of May, between 9.2750 and 9.36. Now the focus is turning to the monthly S2 and the April
According to technical indicators on all major relevant time frames, the US Dollar is going to continue outperforming the South African Rand. It proclaims that there is an uplifted likelihood that the currency pair will breach the upper trend-line of the pattern. Moreover, 72% of the SWFX market positions are short on USD and it will support this currency even
While the near-term outlook is bullish, the longer-term risks are heavily skewed to the downside. At the moment, CAD/CHF is recovering from the lower edge of the ascending channel, and the currency pair is highly likely to re-test last year's December high at 0.7750. An additional argument in favour is a high portion of bears—they take up 72% of
Most of the studies show AUD/SGD is going to keep falling. For one, the pair has formed a high-quality descending channel, and the pattern implies that the price will bounce off of the resistance at 1.0018. At the same time, most of the technical indicators, especially in the four-hour chart, are giving ‘sell' signals. Accordingly, the exchange rate is expected
GBP/AUD is well-positioned for a rally, since the pair is currently trading right at the lower boundary of the ascending channel. The bullish outlook is reinforced by the facts that last week the price broken through the eight-month down-trend an that a majority of the technical studies is pointing north. Also, the distribution between the bulls (34%) and bears (66%)
The Pound is expected to complete another leg down by the end of next week when it hits the 1.4176 marker, currently backed by the weekly S2 along with the monthly S1 and green uptrend line. A recovery may start even earlier around current spot, which merges with the 200-period SMA at 1.4368. These bright projections, however, are not shared
Outlook for the Swiss Franc against the Singapore Dollar is bullish. This currency pair has been building a symmetrical triangle pattern in the 1H chart, where the first leg has been to the upside. It means that the risks are tilted to the upside. However, currently CHF/SGD is correcting lower, but the rally should resume at 1.4050, namely the lower
Our outlook towards AUD/CAD is not as strong as towards AUD/CHF, but is nevertheless bearish. There is a descending channel emerging in the four-hour chart, and the pair should extend the sell-off from 0.9550, where it bounced off of the upper boundary of the pattern. The current target is the lower edge of the channel and at the same time
AUD/CHF price chart is currently being shaped by the channel that is forming within the channel we covered yesterday. The pair is expected to slide down to 0.7050/40 within this pattern, while staying capped by the red trend-line currently at 0.71. The negative outlook is also reinforced by the indicators, which are mostly pointing south. Once the price reaches 0.7050/40,
CHF/JPY has been fixing gains since Friday of the last week. For now it has already gained 283 pips over four days through May 12, despite the fact that the rate is trading within a descending channel. The nearest resistance is represented by the monthly PP at 113.05, which is assumed to be one of the toughest ones of the
Australian Dollar is set to diminish versus SGD, as this pair is trading within the channel down pattern and its upper boundary has just been reached at 1.01. The bullish cap is provided by the weekly pivot point at 1.0127, backed by the 200-hour SMA and daily R1 at 1.0110. They all are unlikely to allow for a growth of
USD/SGD has just failed to surpass the March 25 peak and, as a result, the currency pair is now trending downwards. In the nearest future the rate is expected to confirm the red trend-line at 1.3690 and set off towards the lower edge of the channel at 1.3640. However, we should not expect USD/SGD to trade within the pattern for
The outlook on AUD/CHF is bearish, being that the pair has recently bounced off of the upper trend-line of the descending channel forming in the weekly chart. The near-term bias towards the Aussie is negative as well, since the price is currently trading between two parallel trend-lines that are sloped to the downside. However, soon there may begin a bullish
Last time the NZD/CAD currency pair was analysed five days ago, and then the pair was in a good position to restart declining in value. It seems that the bears have quite successfully accomplished this goal and commenced a leg down. Provided with a heavy downside impetus from the 200-period SMA at 0.8845 and the monthly pivot point at 0.8793,
EUR/CHF is poised for more strength in the foreseeable future, as the pair is bounding off the lower boundary of the channel up pattern. Additionally supported by the daily pivot point, the Euro is expected to breach the first daily resistance at 1.1120 later today, thereby paving the way for a growth of more 20 pips. There, at 1.1140, EUR/CHF
EUR/SGD appears to be forming a double top, as the currency pair failed to break resistance at 1.5640 on two recent occasions. However, there are plenty of arguments against a decline, the main being the fact that the price has just broken out of the triangle it had formed in the daily chart to the upside. This implies a yet
The bias with respect to silver is negative, considering that the price has recently violated the ascending support trend-line and formed a bearish channel. At the moment, the metal is closing in on the upper edge of the emerging pattern, implying that the outlook is bearish for the near term as well. XAG/USD is expected to bounce off of 17.33
Since the Euro has been in a long-lasting decline against the Japanese Yen, its outlook remains overwhelmingly negative. Moreover, by building the descending triangle pattern this cross is showing that the trend is largely biased down. The near-term growth, however, is fully on the table, as also estimated by technical signals on a 4H time frame. The rally should extend
In the short-term we are likely to observe a setback in terms of the US Dollar's value against its peer from Singapore. This is because the pair has recently touched the upper edge of the ascending channel. The sell-off should proceed until the 1.3624 mark where USD/SGD will face the 100-hour SMA, which is backed by the weekly R2 from
Our overall outlook on GBP/NZD is strongly bullish, as the currency pair has recently broken out of the falling wedge. The current target is the March high at 2.15, and if this level is conquered, we may expect an attack on an even more formidable resistance area circa 2.23, represented by the February high and 200-day SMA. Considering the channel