Pair has been narrowing its trading range since 4th of July—from 2200 pips then to 350 pips now. Very Important is the fact that pair is currently testing pattern's resistance. Taking into the account high gauge of magnitude (of movements) of the pattern it is likely we could see significant momentum gains if the pair breaches the pattern's boundaries. However,
Euro-yen cross has been developing in the ranks of a Rising Wedge more than a year (367 trading days). Pair has exceptionally high quality rating (85%) and, at the same time, high magnitude gauge which suggests a possible major gains. Although technical indicators on aggregate on all relevant horizons point at appreciation of the pair we should take into account
Japanese yen has been losing value for quite some time now. As a consequence Channel formations are rather often met with this currency now. Although pair started the week in a rather volatile fashion we should notice that technical indicators almost unanimously point at the further recovery of the pair. Taking in to account that last pairs touch point with
Pair has been trading in a range since the end of May, but formed a quality Rectangle pattern only in the mid-June. Pair has been bouncing from the pattern's support to the resistance rather well which reflects in the 64% (quite above the average) pattern's quality measure. Taking in to account the range of the pattern, which is almost 5000
Just recently USD/CAD has formed a triangle on a 1H chart. However, it is now just a matter of several hours when either the up-trend or the down-trend line gives in and we observe a break-out. Considering the type of the pattern, i.e. the one that skews the chances towards continuation of the previous move, the support at 1.0379 is
Even though the length of this channel up pattern is only 80 bars, both trend-lines forming it were confirmed on a sufficient amount of occasions to call them reliable, at least in the short term. Indicators on the 4H chart are also suggesting there is going to be a rebound.However, according to the daily signals, the lower boundary of the
Situation in this pattern is rather interesting. Technical indicators give strong aggregate signal about the further appreciation of the pair. However, we should pay attention to the fact that quite a few technical indicators give individually neutral outlook. In addition to this, 71% of all open positions on the pair are short and pending orders are equally divided between the
As anticipated pair moved towards the pattern's support rather neatly and bounced from it. However, daily PP at 0.863 unexpectedly put more than anticipated pressure on the pair and pushed it to the pattern's support once again. However, it should be pretty safe to say that this should be bears capitalizing on the recent sell of. We could say so
Taking into account recent depreciation of the Japanese Yen, a channel down formed by EUR/JPY looks rather unusual. However, this retracement can end soon and we will observe further appreciation of the single currency versus the Japanese Yen, as the majority of technical indicators on aggregate are sending "buy" signals. In case of an upside breakout, higher prices are expected.
A rare, but possibly profitable, double top was formed by EUR/NOK. Several days ago the pair tried to penetrate the support line, however, bears were not strong enough. At the moment of writing, 73% of all opened positions were short, suggesting the price may turned lower and reach the lower trend line once again. In case of a downside breakout,
We can observe increased volatility in most of the aussie denominated pairs. This, as in this case as well, lets us to believe that pattern's breach is likely to be swift and traders could trade on the momentum. Short term technicals point at further appreciation of the pair which coincides well with the fact that 70% of all open positions
After a recent rebound from the pattern's resistance pair has reached pattern's support in a timely fashion. We can see a relative increase in the trading volume which points at an increased probability of momentum gain. As short and medium term technicals do not give clear indications bout pairs behaviour we could take a look in to the market sentiment.
On the whole AUD/NZD is in a long-term down-trend; however, recently it has proved to have insufficient bearish momentum in order to pierce through the support at 1.1636, attempting to breach it since Jul 3. With each try the currency pair rebounded, but was frequently capped by the resistance line at 1.1748.Concerning technical indicators, more of them give ‘sell' signals
Mainly thanks to the 200-hour SMA that has acted as a solid support, EUR/CHF has been able to advance north for the last 160 bars and form an upward-sloping channel.Right now the currency pair finds itself close to the lower boundary of the corridor, specifically just above 1.2378, where the 200-hour SMA is as well. Accordingly, the risks are heavily
Despite the recent increase in volatility pair has been developing rather well in the ranks of the pattern. Pattern's quality is above the average. On the other hand, recent volatile period significantly increases the chances that pair will gain momentum once pattern's boundaries will be breached. However, breach of the boundaries does not seem to be coming soon as technical
Aussie-kiwi cross has been gradually loosing value since mid-march, 2013. As a consequence, formation of a channel down pattern does not come as much of a surprise. Technical indicators does not suggest that we should expect a move towards the pattern's resistance. Medium term technicals suggest that the pair should be moving along the pattern's support. However, it is worth
Rectangle pattern formed by USD/ZAR is moving to its apex and soon we are likely to see a penetration of the support line. At the moment of writing the price stood at 9.917, only around 700 pips higher than the lower trend line. The idea of downside breakout is supported by aggregate technical indicators on 4H chart, which are sending
A 125-bar long Channel Up was formed by EUR/PLN on the 4H chart more than a month ago. The pair has been not so volatile during the last several trading sessions, however it has moved to the north rather nicely. As technical indicators on 4H and 1D charts are sending "neutral" signals, the pair is likely to be driven by
Aussie-kiwi cross has been gradually narrowing its trading range maintaining the lower boundaries at the same level. As a consequence we have a descending triangle pattern. Pattern's support is set to intersect with the pattern's resistance on the 12th of July, 19th of July. It is worth mentioning that pair is trading at the last decimal of the pattern's length
Non greenback pairs remained immune to the market noise and continues to develop in the ranks of the patterns rather nicely. Although channels are not the most exciting pattern's, it is worth mentioning that in case of the Euro-pound we have a pattern whose quality is quite above the average and magnitude of 90%. This suggests that traders could expect
Even though the slopes of the trend-lines, which have been containing the currency pair for 450 hours already, are low, each subsequent peak USD/ZAR has reached and each subsequent valley the pair has posted since Jun 11 is a smaller deviation from the centre of the pattern.Right now the pair is at the lower boundary of the formation, suggesting that
During the last 149 trading hours EUR/JPY has been trending downwards within an almost 250-pip wide corridor. This period was marked by a breach of the 200-hour SMA, although it appears the significance of the line is currently decreased—the currency pair often disrespects the moving average. Meanwhile, the technical indicators on 4H and daily charts contradict each other and traders
Kiwi-greenback is posing for a rally as I has formed a Double top pattern (try to reach new low, fail and thus return to trade in the previous levels). Due to the volatility in the middle of the pattern we could see it as a Triple Top pattern. However, its assumptions and expectation (further appreciation) are exactly the same. It
Aussie-greenback has reached new low which is the recent bounce from the pattern's support. It adds some weight to the expectation that pair will continue appreciating and move towards the pattern's resistance. In addition, we have the aggregate reading from the short term (4H) technical indicators which point at further appreciation of the pair. Medium term (1D) technicals give negative