The outlook for NZD/USD is strongly bearish. While the resistance trend-line is expected to remain intact, the support level at 0.65 is likely to give in under the selling pressure, despite being reinforced by the weekly S1. This will pave the way for a prolonged decline, as there are no significant demand areas until 0.6240, namely September low. The near-term
After trading in consolidation for two months, the HKD/JPY currency pair appears to have entered a recover trend, namely an ascending channel. At the moment the pair keeps testing the channel's support line, a breach of which will doubtfully trigger a sharp sell-off, as a rather strong cluster of supports rests around 15.7700. Even in case this area gives in,
The EUR/PLN has been trading in a broadening falling wedge pattern for almost a month a now. With the trading range getting wider with every hour, the pair's current most probable scenario is a rally towards the wedge's resistance trend-line; however, the Euro first requires to pierce the 55-hour SMA, which is bolstered by the weekly R1. The given SMA
The US Dollar is currently testing the ascending channel's support line, a confirmation of which is likely to send the USD/JPY soaring towards the monthly R2 at 123.50. A breach of this resistance would allow the Buck to retest the channel's upper boarder somewhere between 124.00 and 125.00 in the near future. Contrariwise, if the Greenback fails to find support
The Aussie is currently testing the down-trend of the falling wedge, a breach of which should trigger a buying spree until the exchange rate reaches the November high at 0.7224. Technical indicators are supporting this scenario, but the AUD/USD still risks falling down. Several strong supports are in the AUD's path, namely the 55-hour SMA, also bolstered by the daily
The second most traded cross of the Sterling, the one with the Euro, has been intensively losing ground since the second week of October. Overall decline amounts to 400 pips so far. Many market signals suggest that the downward tendency of the single European currency will be in place in the short term. At first, 4H and daily aggregate technical
USD/ZAR's bullish trend assumes that the Greenback will continue rallying in the medium term. The price is going to near the supply zone at 14.33/37 in the foreseeable future. According to 4H technical indicators, the attempt to cross it will be unsuccessful. Moreover, 71% of traders are holding short positions at the moment. Nonetheless, favourable outcome is likely to extend
There is a good chance the US Dollar will keep outperforming South African Rand in the future. The currency pair has formed a bullish channel, and most of the daily and weekly technical indicators are pointing north. USD/ZAR is expected to bottom our around 14.10 and start a new bullish wave that is to surpass the Nov 10 high.Alternatively, in
We hold a negative bias towards USD/CAD in the near term, being that the currency pair has formed a bearish channel. The pattern implies that the upside is limited by the resistance trend-line at 1.3275, while upward correction is to be expected near the lower boundary of the channel at 1.3225, which is also reinforced by the monthly PP and
CAD/CHF has opposite scenario to the one we have just described for the NZD/USD cross. Here we suggest that bears are going to overtake leadership and push the Canadian Dollar downwards during this week and next week. Important support lines to meet are offered by 100-period SMA and monthly PP at 0.7496/72. They are followed by 200-period SMA at 0.7435
Downward-sloping trend-line of the current pattern suggests that the Kiwi is going to lose value in the long term. However, in the short term we expect a rebound to take place, and this idea is supported by technical indicators on 1H and 4H time frames. Moreover, traders are holding bullish positions in 54% of all cases. Recovery above 200-hour SMA
There is a downward-sloping channel emerging in the hourly chart of AUD/NZD. This implies that near-term rallies are to be capped by the resistance trend-line at 1.0790, while the main target is the lower edge of the pattern at 1.0710. And while the technical indicators also hold a negative bias, we need the rate to breach 1.0730 in order to
CHF/JPY is currently forming an upward channel as a part of its correction after the Oct 20-28 sell-off. Accordingly, the near-term outlook is bullish. The currency pair is expected to confirm support at 122.40/20 and then surpass the Nov 9 high at 123.40.However, the overall trend is bearish, and most of the technical indicators are pointing sought, meaning we should
EUR/SEK cross has just breached the triangle pattern's lower boundary, meaning we can project substantial losses for the single European currency and rising value of the Swedish Krona, respectively. The closest possible support is offered by the weekly S2 at 9.3064, but a recent violation of the Oct 28 shows that bears are strong enough to erode the mentioned weekly
Starting from November 4, two attempts to cap losses failed under intense pressure from bearish market participants. After a moderate stabilization around 5.82-5.84 on Monday-Tuesday, we can forecast a new round of movement to the south. The closest reliable demand is placed at 5.7837 (weekly S1), which is followed by the pattern's lower boundary at 5.75. Considering another weekly support
AUD/USD is presently forming a bearish channel. However, while we are more or less confident in the ability of the upper trend-line to contain rallies, especially considering that at the moment it is reinforced by the monthly PP and 200-period SMA, there are considerably less reasons to believe that the lower trend-line will be able to trigger a notable upward
AUD/CHF has recently broken through the support trend-line that has been guiding the currency pair since Oct 21. Accordingly, the outlook towards the Aussie is now negative, especially considering the emerging bearish channel. The price is expected to pierce through the 200-hour SMA and Nov 9 low and start an upward correction only in the region of 0.7030. The near-term
After a sharp growth at the end of the last week, the Buck has been cooling down on Monday after meeting the October 27 high. Despite bullish signals from four-hour studies, we expect USD/CAD to face some difficulties in the next 24 hours. At first, the monthly R1 at 1.3332 should be penetrated. This event can boost sentiment among bulls
The Kiwi's sell-off is very likely to resume in the nearest future, after a short period of recovery. The NZD/USD pair will encounter the pattern's upper boundary, which is strengthened by the daily pivot point from the downside and 55-hour SMA from the upside. Additional supply is offered by three technical levels at 0.66, which include 100-hour SMA and weekly
Despite the bearish bias implied by the weekly and monthly technical indicators we hold a bullish outlook on AUD/JPY in the medium term. The price is expected to extend recovery from 82 yen (August minimum) until it reaches the upper boundary of the pattern at 91.50, which in turn is reinforced by the monthly R2 and 200-day SMA. However, in
USD/NOK appears to be forming a bullish channel at the moment. And while we expect a sell-off from the current levels down to the lower boundary of the pattern, demand circa 8.55 should be enough to stop Dollar's depreciation and trigger a rally, as a result of which the price should return back to the upper trend-line of the channel.However,
Although CAD/CHF has recently broken the support trend-line to the downside and the technical indicators are either bearish or neutral, the currency pair retains a good chance to recover. There is a new up-trend at 0.7555, and an additional support area is at 0.7545, created by the recent lows and 200-hour SMA. If the latter level is violated, however, the
Considering that since late August the Euro has been underperforming the Swedish Krona and the symmetrical triangle itself a neutral pattern, we hold a negative bias with respect to EUR/SEK. The pattern is likely to be broken to the downside, which in turn will pave the way for a decline to the October 28 low at 9.3140. Additional support level
NZD/CAD proved to be unable to sustain a rally beyond 0.90 last month, and at the moment the currency is in a distinct down-trend. The rate has just confirmed the upper boundary of the channel at 0.8750, and we see the sell-off extending deeper. There is a notable support area just above 0.86, but eventually the bears are likely to