A recent climb to a one-month high enfeebled the bullion that commenced a double bottom pattern when this peak was attained. Since that, XAU/USD dropped to a two-week low that became an apex of the pattern touched by the instrument for two times already. After the second stab to this low, the pair did not surprise anyone by starting to
EUR/CHF started to shape an ascending triangle pattern in the end of June and broke through the pattern's support on November 4. Although the pair faltered below the triangle support for almost 14 hours, the breakout appeared false as the pair managed to surpass its 200-hour SMA and return to the pattern boundaries four hours ago. Now the currency pair
The U.S. Dollar was gradually appreciating against the Polish Zloty during October but the pair reversed its trend in early November and started a formation of the channel down pattern. At the moment of writing, the pattern is relatively short, only 60-bar long; however, there are no signs that the pair may breach the pattern limit soon, hence the downside
The double top pattern formed by USD/NOK started when the U.S. Dollar lost ground and touched a one-month low against the Norwegian Krone. Having reached this low, the currency couple changed direction, advanced to almost a one-month high and peaked twice close to this level, with the second peak being surprisingly slightly higher than the first one.At the moment, USD/NOK
The Pound is benefitting from stronger-than-expected data from the U.K., hence all crosses are inching higher. GBP/JPY is not an exception and it seems the trend will persist, even despite the fact stochastic is moving to a zone that indicates market is getting overbought. However, we can expect a short period of consolidation, as market sentiment is not clearly marked.
AUD/CAD has formed a smooth, 267 bar long channel up on August 28. Since then the pair has been channelling up, and despite a retest of the support line, the pair is still moving to the north. Moreover, the outlook for the pair is bullish, as indicators on hourly and 4H charts are sending "buy" signals. At the same time,
Having touched a six-week high in the end of October, USD/CAD fell off in vigour and retreated to a two-week low, a stab to which was a starting point of the rising wedge pattern that has lasted for 42 hours already. Currently, the currency pair is attempting to surpass the lower boundary of the pattern after it dropped below it
A 235-bar long rising wedge pattern has been formed by EUR/SEK starting from October 21. At the moment, the pattern represents a particular interest as the pair breached the pattern's support two hours ago and does not show any willingness to advance and prove that the breakout was false. If the pair is obstinate enough to prolong its slump for
Since the beginning of October, EUR/DKK has been falling, vacillating between two parallel downward sloping lines. At the moment, the pair is a subject to a selling pressure that stated to play its role in the pair's movements after EUR/DKK soared from the pattern's support to above 50-hour SMA a couple of hours ago. Traders' sentiment also shows that market
The most traded currency pair, EUR/USD, peaked at a two-year high on October 25; however, this jump was too arduous for pair and the single currency commenced a bearish trend against its U.S. counterpart that lasted until the pair reached a two-month low. This low represents an apex of the double bottom pattern that was started during a sharp decline
Pair peaked above 100 JPY in the first part of September which was followed by a month long sell off. Pattern at hand marks the pair's second attempt to recover. It tested pattern's boundaries few hours ago. And since only trend indicators, which still might be effected by the recent move from the pattern's support, give sell signal we expect
Pair has been trading in a 370 pip range since the first part of September. It started as a Double Top pattern, but the pair started appreciating in the last week of October even before it hit the pattern' support, which at that point was at 79.89. We might expect some downside pressure form daily and weekly R1 and 20-day
After a stronger-than-expected services data from the U.K., the cable shot up and almost hit a 200-bar SMA at 1.6073. However, traders do not see a lot of room for further appreciation, as 60% of opened positions are short. Nevertheless, pound's weakness is likely to be short-lived, as 59% of pending orders in a 50 pips range are placed to
A 276-bar long rising wedge was formed by AUD/CHF on August 28, and despite its length, the trend is likely to persist for a long period of time. The main reason behind this suggestion is that currently the pair is trading in a middle of a trading range, while technical indicators are suggesting a retest of the resistance line soon,
NZD/USD formed a double bottom pattern, a breakout from which usually results in a sharp appreciation of the pair. However, this time the pair is facing hindrances while trying to advance after it re-approached the pattern's resistance. At the moment, the pair is trapped between 200- and 50-hour SMAs, with 200-hour SMA meandering above the pair and acting as formidable
USD/CHF mostly followed bearish trend during the first two months of the autumn but the very end of October was marked by an unexpected jump of the pair. It seems that a previous retreat aided the currency pair to gain enough strength for a sharp advance that started on October 30 when USD/CHF commenced formation of a channel up pattern.
In the end of October, the single currency started to depreciate sharply against the Swiss Franc, shaping a channel down pattern. An accelerating decline took the pair to two-week low reached a couple of hours ago. The downside pressure is likely to stay in place as 55.25% of traders bet on further decline of the instrument and technical indicators point
A 195-hour long rising wedge pattern formed by USD/JPY started on October 22. Since then, the currency couple fluctuated between two upward sloping lines that helped USD/JPY to reach a two-week high on November 1. After coming off this high, the pair dived below 50-hour SMA to trade close to daily support sitting at 98.50 (daily S1). The SWFX data
Aussie is strengthening against major currencies for a long period of time and represent a huge problem for Australian exporters, however, further appreciation of AUD/JPY is likely, as indicators on 4H and weekly chart are sending "buy" signals. It seems that bears are experiencing strong difficulties around 93, as a bunch of key support levels are located in a 70
On August 28 AUD/CAD has formed a channel up pattern. On September 2 the pair has crossed the 200-bar SMA and since then the pair has been trading only above it. However, after hitting a 1.0046 on October 28 (previously reached on June 3), the pair dropped towards pattern's support. Currently the market sentiment is not clearly marked (52% bullish),
Pair has been narrowing it's trading range since the end of January, when it reached 2013 high at 7.4642. Prior to that we can see a 7 month long, 340 pip rally. Despite that, effect of the Fibonacci retracements, if there was one, is negligible at the moment. At the moment pair is moving towards the pattern's support after testing
Despite being less popular than two previously mentioned currency pairs, GBP/NZD movements are worth describing as the pair has shaped a relatively long channel down pattern that started in mid-September. At the moment, the pair is struggling with heavy selling pressure that occurred after it reached the pattern's resistance for the second time. Two bars ago, GBP/NZD tumbled below its
A sharp decline of EUR/TRY that was observable after the pair touched a one-month high in the end of October represented a channel down pattern that now is 99-bar long. Being trapped by tow steep downward-sloping lines, the pair is likely to extend its losses in the hours to come. Market sentiment also confirms this; 68.75% of traders are bearish
A recent advance of the U.S. Dollar against the Japanese Yen resulted in a breakout of the triangle pattern that lasted for more than three months. The future movement of the instrument that shapes a triangle mostly depends on the direction in which it breaches the pattern, therefore USD/JPY is likely to prolong the rally after it crossed the upper