The New Zealand Dollar is depreciating against the Swiss Franc in a channel down pattern in the short term. On a larger scale the currency exchange rate has been moving south in a falling wedge pattern since the start of September. The rate's movement is highly affected also by the 200-period SMA, which has managed to many times change the
The Australian index concluded its consolidation period with a violation of the 5'439 bottom trend-line of the rectangle it has consistently traded in for the last two weeks. Following a retracement to the broken demand zone, the gauge is on its way to test 5'409/5'407 after battling 5'419, the September 30 low. Adding more ground to our presumption of an
While a symmetrical triangle led AUD/CHF to lose volatility and show some upside potential, its strength to guide future movements might be limited, given the dominant weekly channel down which it has falsely broken several times on the hourly chart. The next tap at the bottom trend-line near 0.7440 could result in a close below, putting 0.7399, the monthly Pivot
As the Greenback gained strength in the past week against other currencies, the USD/NOK exchange rate has formed a short term ascending channel pattern in the borders of a larger, descending channel pattern. It also has to be noted that the currency exchange rate is heavily affected by the Fibonacci retracements, which connect the 2016 high and 2015 low levels.
The US Dollar is depreciating against the Hong Kong Dollar on a larger, long term scale in a descending channel pattern. However, most recently the currency exchange rate was fluctuating in the borders of a channel up pattern, which occurred due to the currency pair finding support in an ascending line, which connects the various low levels of this year.
Losing volume by the bottom boundary of the week-old symmetrical triangle, HKD/JPY showed slight weakness by touching the trend-line repeatedly. While we do expect the pair to continue its way inside of the pattern with 13.3959 being the next target, it might take longer to get there, based on the flatness of the motion. SMA signals remain in favour of
A distinct uptrend led the movements of USD/CHF since the beginning of September, adding a bound from the upside to create an ascending channel over the last week or so. Currently consolidating, it appears that the pair is about to tap at the top trend-line at 0.9902 once more in an attempt to break through, however, we look for it
The Loonie is depreciating against the Hong Kong Dollar in a falling wedge pattern, as the currency exchange rate is moving lower from one trend line to another in the borders of a larger pattern. The larger pattern is a channel down, which has been dictating the rates movement since the start of May. Moreover, the Fibonacci retracement levels between
The common European currency is simultaneously in two ascending l patterns against the Swedish Krona. The smaller pattern, which is a broadening ascending wedge is a representation of the currency exchange rates rebound from the larger patterns lower trend line. Most recently the currency pair reached the short term patterns upper trend line in a sudden surge from 9.6477 to
Following a false break on the upside, the October 6 "Flash Crash" managed to push GBP/JPY below the descending triangle, going on to a correction of the violated 129.41 level, just to extend the dip along with the newly formed downtrend. The triangle formed over a three-month period, gaining enough strength to make the breakout count. Gaining some slanted resistance,
EUR/PLN entered a descending channel pattern just to exit the symmetrical triangle it had developed arguably since June. The break below took place on October 6 at 4.2871, causing a retracement and tests of 4.2665, the weekly S1 Tuesday morning. With 4.2535 serving as the next target, we look for an extension of the bearish market and the channel pattern,
The Canadian Dollar recently surged against the Japanese Yen, and the surge occurred in accordance with two patterns. On a smaller scale the pair trades in a channel up pattern, and on a large scale it is in a falling wedge pattern. The channel represents the Loonie's rebound from the wedge's support level and the following appreciation against the Yen.
The US Dollar is simultaneously trading against the Ruble in accordance with three patterns, which are hard to spot even after they are pinpointed. Due to that they have to be dissected one by one. First is the larger scale broadening descending wedge pattern, in which the pair has been since March. Second is the medium scale falling wedge pattern,
A symmetric triangle established over 2016 is signalling an extended motion north – a claim whose credibility might be overshadowed by the four and a half year channel down, which has proved dominant, breaking junior patterns before. Currently attempting the upper trend-line of the channel at 0.7649, AUD/USD is likely to bounce from the level to fall right through the
A slide from June highs was accompanied by a symmetrical triangle, causing USD/PLN to consolidate into a flattish downtrend. We look for a break below the bottom trend-line at 3.8317 next week, as it appears that the rate is attempting another wave up towards the 3.8526 area, where the upper trend-line of the triangle lies. In case the bears take
A retracement in progress will not let USD/JPY abandon the broken trend-line of the two and a half month symmetrical triangle just yet, skewing directional risk to the downside at 101.59 short term. What makes the upward violation that more impactful is its proximity to the upper trend-line of a half-year channel which was broken along with triangle, suggesting, firstly,
The Aussie is surging against the Swiss currency simultaneously in two ascending channel patterns, which are in the middle of an ascending triangle pattern. First of all, it has to be noted that the short term ascending pattern has still not clearly showed its borders, as the currency exchange rate trades in a very tight range. Due to that, the
The US Dollar recently broke out of an ascending triangle pattern against the Swedish Krona, and due to that a short term channel up pattern has formed. In the meantime, on the weekly chart a massive channel down pattern is active, and the short term ascending channel is aimed exactly at the large scale pattern's upper trend line near the
NZD/JPY stayed steady inside of the ascending channel that dominates the bullish trend for two weeks already, battling some upside pressures that caused the rate to lose volume and momentum on the latest wave. Various time-frame SMAs now make the pair face a tough area to push through and express enough strength to rally up to the upper channel trend-line
To consolidate the downward motion, HKD/JPY entered a descending channel pattern, building up some bearish potential for a break below the support level at 12.9269. The break, however, did not go as planned, establishing a new high at 13.4194, which has sketched another upper trend-line of the triangle. We believe that the break will come either on the current wave
The Greenback most recently began a short term surge against the South African Rand in accordance with an ascending channel pattern. However, the rate still remains on a larger scale in a descending channel. Moreover, it can be seen that the latest surge is a result of the rates rebound from the August Low level of 13.4420, and the low
The US Dollar is simultaneously trading in two ascending channels against the Singapore Dollar. The short term channel up pattern formed in the borders of the larger channel. The short term pattern came into existence as a result of the 200-period SMA stopping and rebounding the rate on the night from September 22 to 23. In addition, it is not
A two percent slip took the form of a falling wedge, suggesting that the short-term GBP/CHF weakness is unsustainable and bulls are likely to take over in the nearest future. Floating in the very centre of the pattern, the pair is on its way to complete the flattish motion south, suggesting that 1.2376 is the area that will limit the
An ascending triangle directed EUR/GBP movements up until the violation of the bottom trend-line at 0.8794 that took place on Wednesday. We look for the pair to slip to 0.8744/40 just after it completes the correction in progress. The rate could reach the broken line circa 0.8840 with the help of SMA pressures from beneath. On a larger scale, EUR/GBP