The single European currency has been in a decline phase since the middle of December. Since, the pair covered more than 400 candles on a 4H chart and lost around 1600 pips. Taking into consideration the most recent development, the pair has touched two the upper trend-line during past two weeks. This development energized pair's bears and the Euro resumed
CHF/JPY currency pair has been forming the current triangle pattern since the very beginning of March 22-27 trading week. However, this Tuesday the figure was confirmed to the downside, and the pair crossed one more support line at 123.60 (daily S1; 200-hour SMA). At the moment, it is expected that the Swiss franc will continue underperforming the Japanese yen. This
The Sterling has been recovering since last Wednesday, but there are indications the bullish momentum is about to give way for a sell-off. GBP/NZD has formed a rising wedge, a reversal pattern, as a correction in a bearish market. Accordingly, we expect the lower trend-line (currently at 1.9712) to be violated eventually. In this case the first target will be
Following high levels of volatility late last year and early 2015 EUR/PLN entered a moderate down-trend. The channel itself implies a bearish outlook on the Euro. However, since the pair has recently confirmed the lower boundary of the pattern, this is a good reason to be long the common currency as long as we are at a safe distance from
Last week, the US Dollar has successfully bounced off the lower boundary of the bullish channel and is intending to grow again, following the short-term weakness that took place since mid-March. Technical indicators on a 4H and weekly charts are strongly pointing to the upside, suggesting the pace of USD/SEK pair's advance should increase both in near and long-term. Substantial
During past two trading days the EUR/NZD's bears struggled in gaining sufficient momentum. As the result, they failed to push the pair below 1.4250 and it returned back towards the upper trend-line of the channel down pattern. Currently, difficulty for bears is created by broad demand areas from below the current trading level. Therefore, technical indicators are not currently strongly
Initiation of the bullish channel dates back to October of 2014, when NZD/CAD stabilised at 0.87, namely near a long-term support trend-line (in play since 2009). Right now the currency pair is facing the 2014 high at 0.9656, which may potentially trigger some selling. However, there are formidable supports at 0.9474 and 0.9300, which may potentially provide good opportunities to
While considering only the recent several days USD/ZAR might seem a good buy, on a larger scale the pair has just made a contact with the upper trend-line of the long-term bearish channel. Accordingly, it is more likely that there is going to be a sell-off, through the up-trend at 12.0267 and through a cluster of supports at 12.00, potentially
EUR/JPY has been in a strong down-trend since last year's December, and the pair is already trading at the levels seen in 2013. The recent rally did not turn into a reversal, failing at 131.30. Now the outlook is once again negative, as confirmed by the technical indicators. The upside is limited by resistance at 130.00 (weekly PP, down-trend, and
Being unable to overcome supply at 0.7740, AUD/CHF was forced into a down-trend. Accordingly, the appropriate strategy would be to sell on rallies. The key resistance is represented by the trend-line at 0.76, strengthened by the 200-hour SMA, though 0.7546 may also play a significant role.In the meantime, losses should be limited by the support trend-line, which at the moment
USD/SGD has been trying to recover since Tuesday, and the pair managed to form a bullish channel. However, we should note that the upper trend-line appears to be more reliable than its lower counterpart (judging by the number of confirmations), and the technical indicators do not favour a rally neither in the short nor in the long run.Nonetheless, there is
The Euro appears to be in a good position to appreciate relative to the Australian Dollar. From below the currency pair is well-supported at 1.3917 by the 200-hour SMA and weekly PP and at 1.3900 by the two-week trend-line. The nearest resistance level is at 1.3957 (daily PP), followed by the daily R1 at 1.4018, but the bullish momentum is
A downward correction from the mid-March seems to have ended at 2.54, and the currency pair is now advancing towards the key level at 2.6450. By breaching this level USD/TRY will confirm its long-term bullish intentions. At the same time, immediate support is at 2.61, represented by the lower trend-line of the cannel. If violated, this will imply a sell-off
Following exorbitant levels of volatility as a result of the recent FOMC meeting, EUR/NOK seems to be forming a falling wedge. Consequently, we should expect a break-out to the upside. The key level is at 8.6027, reinforced by the daily pivot point. However, the currency pair may also encounter some resistance at 8.6121, but afterwards should be able to reach
Right now, being well-supported by the monthly S1 at 11.8380, USD/ZAR is moving in the direction of a strong resistance area near 12.1150, represented by the 200-hour SMA and, even more importantly, by the down-trend. Accordingly, there the current rally is expected to make a U-turn and start targeting the lower boundary of the bearish channel.Meanwhile, the technical indicators are
If we ignore the Mar 4 dip, GBP/CAD appears to be trading in a well-defined channel. Accordingly, the Sterling is expected to underperform relative to the Loonie, as confirmed by the four-hour and daily technical studies, and the focus therefore is on supports. The closest demand area is at 1.8555, followed by the weekly S2 at 1.8508. The floor at
AUD/CAD has been trading in an upward-sloping channel since the beginning of February. Therefore, the overall outlook for the Aussie is currently bullish, even though the technical indicators are largely mixed. However, being that the currency pair has just bumped into the upper trend-line, the near-term risks are heavily skewed to the downside. Immediate support is at 0.9758, represented by
Having found dense demand zone at 1.34, the single European currency is currently trading in an up-trend. However, at the moment there is some hesitation observed in the vicinity of resistance at 1.3750 (weekly R1 and Jan low), despite the distinct bullish signals on the shorter-term time-frames.Accordingly, there is a good chance of a sell-off, which should be limited by
A rally from 120.00 was able to develop due to the absence of any significant resistances. However, right now CHF/JPY is approaching an important obstacle at 126.00, which will test the strength of the present bullish momentum. If this level is broken, the gains could be extended up to the 127.50-128.00 region.At the same time, validity of a bullish scenario
EUR/GBP turned around ahead of 0.70, and the pair is now forming a bullish channel. However, since the price has just confirmed the upper trend-line, the near-term risks are skewed to the downside. The Euro should descend through the nearby supports at 0.7344 and 0.7317 before bottoming out in the vicinity of the lower boundary of the pattern. However, if
Although the recently discovered ascending triangle has just been broken to the downside, there are still enough reasons to be long the Kiwi. NZD/USD is currently trading between two parallel upward-sloping trend-lines. If the currency pair stays above 0.95, the outlook will remain bullish, though the demand at 0.9540 may also act as a floor. Accordingly, the focus should be
Since the second half of Mar 19, when GBP/AUD once again failed to break resistance at 1.9450, the currency pair has been trading in a narrow downward-sloping channel. And for the time being there are no reasons to doubt the bearish outlook. There are no significant supports spotted nearby that may change the direction of the Pound. The closest such
As support at 127.00 refused to let EUR/JPY lower, the currency pair started to recover, and eventually it formed a bullish channel. Accordingly, there may soon open up an opportunity to buy on a dip from the upper boundary of the channel. The exchange rate is expected to fall under the immediate support level at 130.50 and then turn around
NZD/CAD currency pair has formed yet another ascending triangle. Now the obstacle to be overcome is at 0.96. The bullish outlook is also reinforced by the hourly and four-hour technical indicators. If the New Zealand Dollar gains a foothold above the key resistance, this will pave the way for a rally towards the 2014 high at 0.9657. On the other