Pair has been gradually narrowing its trading range since the beginning of June and formed a Triangle pattern. There is only 50 bars (20%of total pattern's length) left till the pattern's apex, which is at 0.9568 on 30th of July, 16:00 GMT., thus we could expect significant movements in the nearest term. Important is the fact that recently there was
After bottoming out at 103.12, the currency pair started to exhibit bullish sentiments and since then has covered more than 300 pips. The resistance CHF/JPY is presently facing at 106.30 is the daily R1, but this should eventually give way for a rally to the upper edge of the channel up to 106.82, the current level of the daily R2
For an extended period of time EUR/PLN has been attempting to rally beyond 4.37, but failed to do so, slipping beneath the 200-hour SMA and forming a channel down on a 1H chart. While the overall picture is bearish, we expect the decline to extend down to 4.2208-4.2136 in a day or two.Rallies are not ruled out, Most likely they
USD/ZAR has recently breached the 200-hour SMA, an event that marked the start of the channel down formation. The pattern is already 100 bars long, during which the boundaries of the corridor were tested on several occasions. Considering this set-up, the outlook on the currency pair is negative, even though technical indicators are only slightly bearish. SWFX marketplace participants, however, are
Somewhat similar to the situation in USD/ZAR is observed in USD/TRY, where the currency pair has just fallen below the long-term moving average (for 200 hours), suggesting that the risks are now skewed to the downside. This means the price is more likely to focus on the nearest supports, namely 1.9083 and 1.9031. While the former level is an intermediary
Assumptions behind the Double Top pattern are very similar to the ones with Triple Top pattern—pair fails to reach new high and gradually returns to the previous trading levels. However, at the same time they are somewhat weaker than in Triple top pattern. Pair tried to reach new high only twice. This is reflected in the short and medium term
Greenback-loonie cross seems to have been developing very well in the frame of the Rising Wedge pattern. Directional moves were rather clean, with some minor corrections along the way. However, due to these corrections and overall assumptions of Rising Wedge pattern pair magnitude (of movements) rating is at its highest suggesting that there is a major change of momentum gains
Pair is signalling about a possible depreciation of the pair. It is the main underlying assumption behind the Triple To pattern—pair fails to reach new high, which happened three times already, and gradually returns to the previous trading levels. At the moment pair is trading just slightly above the pattern's support and seems to have enough propensity to breach and
Loonie-franc cross is developing in ranks of a Chanel Down pattern rather well. As technicals suggest the pair is likely to continue depreciating in the short term, we could see some sort of bullish correction in the medium term, but overall bias on the pair should remain bearish. It is worth pointing put that Fibonacci levels seems to be playing
EUR/NZD has been developing similarly to EUR/AUD during the recent months and both pairs have formed an uptrend. At the moment the Euro stopped its appreciation versus Kiwi as the price consolidates for more than 4 days. Actually it is a bullish rectangle to be more precise, which is defined by two parallel trend lines which represent support and resistance
During the last 153 hours were observing the appreciation of the single currency against the Aussie, however, latest performance is raising concerns the trend may switch its direction, as the pair is testing the support line. As the pair has been fluctuating around 1.42 for more than 22 hours, and technical indicators as well as market sentiment are sending "sell"
Similarly to CAD/CHF, this pair has violated the 200-hour SMA while forming the channel down as well. Still, AUD/JPY does not seem to be in a hurry to decline, fluctuating lately (30 bars) within a narrow corridor between the long-term moving average at 91.51 and the upper edge of the pattern at 91.72. Being that the pair is in the
Judging by the recent behaviour of CAD/CHF, namely during the last 55 hours, the currency pair started to trade in a down-trend after breaching the support represented by the 200-hour SMA. The negative bias is shared by the near-term technical indicators, though the current signals are somewhat weak and are bullish for a daily time-frame. As for the SWFX traders'
After prolonged loss of value by the Japanese yen it is not unexpected that we are seeing some sort of price correction which in this case comes in form of the Channel Down pattern at hand. Although the pair recently rebounded from the pattern's resistance it is a bit unclear if such trend will persist as medium to long term
Gold-greenback cross has been gradually narrowing its trading range (from 3800 pips on 11th of July to 1100 pips at the moment). As technicals do not give conclusive aggregate readings and the Stochastic indicator in the short term sends sell signal it is highly likely that the pair will remain in the boundaries of the pattern in the nearest future
A 134-bar long rising wedge pattern was formed by CHF/JPY. Currently, the trading range is narrowing rapidly, and the pair now moves in a 50 pips range. The fact, that aggregate technical indicators on 1H and 4H charts are sending "buy" signals, is adding to signs that soon a penetration of the upper trend line will occur, making the pair
As it was predicted last week, EUR/NOK moved back into Double top pattern's boundaries and even formed a Rectangle pattern. Actually it is a bullish rectangle to be more precise, which is defined by two parallel trend lines which represent support and resistance levels respectively. After an uptrend, the price stops to consolidate for a moment. After the break of
Although recent GBP/JPY's behaviour may seem hectic at first—nearly all of its candles for the last 60 have long spikes, pointing at a lack of pair's movement continuity, we can still draw two parallel trend-lines that would clearly show us the bullish tendency the price has been exhibiting after hitting a serious support level at 148.84. GBP/JPY has already managed
During the last 300 trading hours USD/TRY has been in a low-slope up-trend after an accelerated rally from 1.8503 up to 1.9606. This channel up is an emerging pattern that still requires more confirmations of its boundaries, especially the upper one, for it to be fully formed. We may soon expect a test of the lower edge of the formation
Since Jul 9 GBP/NZD has been consistently recovering from a low of 1.8865, delaying advancement only on a few occasions and for short periods of time. It was 60 hours ago when the price encountered a formidable resistance area at 1.9469, which did not let the British Pound to move any higher. On the other hand, the dips initiated at
For little more than 80 hours USD/PLN has been trading between two converging trend-lines. However, the currency pair has already reached the apex of the pattern, meaning we are likely to see more activity in the exchange rate, volatility of which has been diminishing with each trading hour lately. A break-out usually implies sharper moves and we expect a sell-off
After reaching a low of 1180.86 on June 28, gold is starting to recover versus the greenback and even formed a channel up pattern, with 65% quality and 60% magnitude, suggesting we might observe the appreciation of the pair for some time. Even though technical indicators on three different timeframes are sending mixed signals, market sentiment is strongly bullish (73%),
As the Danish Krone is pegged to the single currency, the EUR/DKK is not so volatile as in comparison with EUR/USD, however, the fact that at the moment of writing the pair was testing the lower trend line, is adding to signs the pattern may be profitable for trade. In case the price will close below 7.4576, bears will take
It seems that after the recent rally (from 13th of June till 7th of July) the time has come for some bearish correction. However, recent bounce from 98.2 JPY and aggregate readings from medium to long term technicals raises some questions. In the short term we should see another sell off (suggested by the Stochastic indicator), but it is unclear