- Mon, 10 Apr 2017 11:27:05 GMT
EUR/PLN 4H Chart: Channel Down
The common European currency is depreciating against the Polish Zloty simultaneously in three descending channel patterns. The future situation is quite unclear, as the pair should surge in the medium term due to hitting the support line of one of the dominant patterns. However, the most junior pattern is holding the line and might still guide the currency exchange rate
- Mon, 10 Apr 2017 11:26:48 GMT
USD/PLN 4H Chart: Channel Up
The Greenback is surging against the Polish Zloty in an ascending channel pattern, which is a representation of the currency exchange rates rebound in the borders of a larger descending channel. The currency exchange rate is about to experience a bounce off against a resistance level. However, it is quite unclear against which resistance, as the 200-period SMA is moving
- Mon, 10 Apr 2017 10:20:21 GMT
NZD/JPY 1H Chart: Falling Wedge
What used to be a channel down pattern on the hourly chart, has now lost amplitude for lows and upped its bullish potential as a falling wedge emerges. Following the double top on the daily chart, NZD/JPY showed solid downward momentum until just now. The hit at the upper trend-line might serve as a stepping stone to start another wave
- Mon, 10 Apr 2017 10:19:38 GMT
GBP/JPY 1H Chart: Falling Wedge
The monthly downtrend added a second boundary to sketch a falling wedge on the hourly chart to set some bullish pressures into action. The GBP/JPY has just touched the upper bound of the pattern and entered a resistance cloud which is most likely to send the rate packing towards the lower trend-line around 137.02. There is a strong support cluster
- Mon, 10 Apr 2017 10:10:35 GMT
NZD/JPY 1D Chart: Double top
There is almost no hope in sight for NZD/JPY with a double top on the daily chart and a strong downtrend flowing out of it. In addition, the pair has just under-stepped the 100-hour SMA and lies exactly below the extremely bearish crossover of the 55 and 100-hour SMAs, sending strong SELL signals to traders potentially leading to an even
- Fri, 07 Apr 2017 12:02:00 GMT
GBP/CHF 4H Chart: Channel Down
The Sterling recently hit a strong resistance cluster against the Swiss Franc and as a result a medium term descending channel is in the formation. On a large scale the currency exchange rate is in an ascending channel pattern, which is set to struggle with the 23.60% Fibonacci retracement level at the 1.2595 level in the long term. The retracement
- Fri, 07 Apr 2017 12:01:49 GMT
GBP/CAD 4H Chart: Channel Up
The Pound is in a complicated situation against the Canadian Dollar, as various types of lines can be drawn on the rate, and the situation seems like a mess after first glance. The currency exchange rate is simultaneously trading in three channel patterns, and two trend lines of various channels are also creating a triangle pattern. All in all, a
- Fri, 07 Apr 2017 08:04:18 GMT
USD/RUB 4H Chart: Channel Down
The Greenback is losing ground against the Russian Ruble also due to the reason that the Ruble is continuing its recovery from the events, which occurred around New Year's Eve of 2015/2016. The currency exchange rate is fluctuating simultaneously in two descending channel patterns. However, clues indicate that the situation is about to change. The reason for that is the
- Fri, 07 Apr 2017 08:03:51 GMT
EUR/RUB 4H Chart: Channel Down
The common European currency continues to decline against the Russian Ruble, as the Ruble is recovering in the markets after the drastic fall, which it suffered at the end of 2015 and start of 2016. Most recently the currency exchange rate reached the upper trend line of a medium term descending channel pattern, which represents the pair's bounce off and
- Thu, 06 Apr 2017 12:54:33 GMT
AUD/JPY 4H Chart: Channel Down
The Australian currency still remains against the Japanese Yen simultaneously in three various scale descending channel patterns. However, due to the fact that the currency exchange rate has reached and bounced off the support line of the most dominant channel the pair is set to surge. Most likely in the upcoming weeks a new short and medium term pattern will
- Thu, 06 Apr 2017 12:54:17 GMT
AUD/CHF 4H Chart: Channel Down
The Australian Dollar is trading against the Swiss Franc simultaneously in two descending channel patterns. The junior channel is a representation of the currency exchange rates bounce off from the combined resistance of the 200-period SMA and the upper trend line if the dominant pattern at 0.7670 level. The channel is heading into the support provided by the 23.60% Fibonacci
- Thu, 06 Apr 2017 08:35:49 GMT
AUD/NZD 4H Chart: Channel Down
On March 16 the Australian Dollar changed its direction against the New Zealand Dollar, as the currency exchange rate encountered the upper trend line of a medium term ascending channel pattern. Although it was expected that the only a short term decline will take place, the currency pair formed a new descending channel. By looking at the larger picture it
- Thu, 06 Apr 2017 08:32:49 GMT
USD/SGD 4H Chart: Rising Wedge
As a result of a rebound against a support level near the 50.00% Fibonacci retracement level at the 1.3930 level, the US Dollar is surging against the Singapore Dollar in a rising wedge pattern. The wedge is aimed at the combined resistance of the upper trend line of a dominant descending channel pattern and the 38.20% Fibonacci retracement level. Both
- Wed, 05 Apr 2017 12:46:18 GMT
USD/NOK 4H Chart: Channel Up
The US Dollar against the Norwegian Krona is in a complicated situation, as the currency exchange rate is simultaneously fluctuating in four various scale patterns. However, in general a surge is expected form the Buck against the Krona, and it can be observed occurring. Most recently the currency exchange rate encountered the resistance put up by the 23.60% Fibonacci retracement
- Wed, 05 Apr 2017 12:46:05 GMT
USD/SEK 4H Chart: Channel Up
The Greenback recently established an ascending channel pattern against the Swedish Krona. The channel represents the break of the upper trend line of a long term descending channel pattern by a medium sized ascending channel. Due to that factor it is assumed that the small scale pattern will remain in force until it reaches the upper trend line of the
- Wed, 05 Apr 2017 08:41:47 GMT
SGD/JPY 4H Chart: Channel Down
The latest developments during the past four trading sessions on the SGD/JPY currency exchange rate have pressured for the need of a review of the rate. The hypothesis of a bounce off from the 200-period SMA fulfilled itself, as the currency exchange rate changed its direction, and the previously active ascending channel pattern has become obsolete. As a result a
- Wed, 05 Apr 2017 07:54:23 GMT
USD/JPY 4H Chart: Channel Down
The Greenback is depreciating against the Japanese Yen simultaneously in two descending channel patterns. In general, the currency exchange rate is moving downwards in the junior pattern to the lower trend line of the dominant pattern. However, on its way lower the Buck might find support against the Yen, as the 50.00% Fibonacci retracement level is located at the 109.41
- Tue, 04 Apr 2017 14:14:00 GMT
NZD/USD 1H Chart: Channel Down
After testing the 0.6882 area twice, NZD/USD set it as its target once again and formed a channel down pattern to lead the motion. The pair has tested the upper trend-line last, suggesting that the target has shifted to 0.6960, the lower bound. There are, however, still several demand levels on the way at 0.6969 and 0.6942, respectively. We will
- Tue, 04 Apr 2017 14:11:17 GMT
USD/CAD 1H Chart: Channel Up
Half-year highs came at a price when EUR/NZD took a smooth dip immediately after test of 1.5478, an area just above the double-tested previous high of 1.5446. The pair did, however, lose the amplitude for highs and formed a rising wedge which it broke a few hours ago, stretching the motion into a red cloud resistance which, along with a
- Tue, 04 Apr 2017 09:22:50 GMT
USD/CHF 1H Chart: Ascending Triangle
USD/CHF climbed inside the bounds of a channel pattern, but hit two-week highs at 1.0035 where it did not manage to rise above, creating an ascending channel pattern which might break to lead a steeper motion up. Due to the lack of previously confirmed significance of the level, the pair should not have serious trouble to overstep the trend-line, but
- Tue, 04 Apr 2017 09:18:49 GMT
EUR/NZD 1H Chart: Falling Wedge
Half-year highs came at a price when EUR/NZD took a smooth dip immediately after test of 1.5478, an area just above the double-tested previous high of 1.5446. The pair did, however, lose the amplitude for highs and formed a rising wedge which it broke a few hours ago, stretching the motion into a red cloud resistance which, along with a
- Mon, 03 Apr 2017 12:45:03 GMT
USD/MXN 4H Chart: Channel Down
The Mexican Peso is continuing its recovery against the US Dollar, as, in the aftermath of a fundamental fall of the USD/MXN currency pair, a descending channel pattern has formed. The channel has guided the rate below the support of the 38.20% Fibonacci retracement level, which is located at the 18.9592 level. The currency exchange rate is set to continue
- Mon, 03 Apr 2017 12:26:16 GMT
GBP/CHF 1H Chart: Channel Up
As a result of the Pound reaching the lower trend line of a long term ascending channel against the Swiss Franc, the currency exchange rate has formed a small scale ascending channel pattern, which can be observed on the hourly chart. Most recently the currency exchange rate reached above the 23.60% Fibonacci retracement level at the 1.2558 level, which is
- Mon, 03 Apr 2017 08:38:18 GMT
GBP/AUD 1D Chart: Descending Triangle
GBP/AUD looks fairly bearish on the daily chart, suggesting that lows untackled since 2013 might come into the picture rather soon. The pair is currently trading inside of a red cloud and is steadily climbing up towards the northern boundary of the pattern. It will encounter supply at 1.6550/6626 on its way towards 1.6652 where we expect for it to