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
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