USD/JPY pair has been gaining strong value already since August of the previous year; however, in the mid-December the growth was stopped by 122 major level. As a result, the pair is hovering between 116 and 121 since that time, which eventually helped a rare rectangle pattern to appear on the four-hour chart. Taking into consideration current development of this
A strong appreciation of the Sterling began on January 16, when the present pattern started emerging as well. Nevertheless, now it seems that the pair lacks bullish momentum and has a chance of a fall in the foreseeable future. At first, the pair is still unable to get enough support from daily R1 and pattern's support in order to increase
The Canadian Dollar has been largely underperforming the Japanese Yen since the beginning of the year, but now there is a good reversal signal—a falling wedge. The currency pair has just closed above the down-trend, meaning there is a high possibility of a rally in the nearest future. The initial target is the Jan 22 high at 96, there it
EUR/NZD seems to have bottomed out at 1.48 following a strong sell-off from 1.62 since mid-December. Now the pair has to respect the boundaries of the bullish channel it has formed, though the lower rising trend-line of the pattern still appears to be unreliable. At the moment the Euro is facing the resistance at 1.51 represented by the weekly pivot
Without reaching the lower trend-line of the current rising wedge pattern, American dollar began gaining more value again and is now already approaching the 1.35 major level. Additional support is currently provided by a strong demand zone at 1.3450, represented by the monthly and weekly R2. According to market participants (73% bullish on the Greenback), we may see an increase
An unusually narrow descending triangle pattern has been formed by the AUD/CHF currency pair. Following a considerable surge of the franc back on previous Thursday and uplifted volatility on the market, it seems that this pair is one more time entering the narrow trading zone. As soon as during next couple of hours we expect to observe a violation of
Since Jan 15 the trading range of CHF/SGD has been narrowing, leading to formation of a symmetrical triangle. Taking into account that the pattern was preceded by an upside gap, the likelihood of a bullish break-out is deemed to be higher than a chance of the support trend-line being breached. Once the resistance at 1.5650/00 is broken, the Franc will
The precious metal is currently in a strong up-trend, it has already gained more than $100 in price since the beginning of the year. At the moment XAU/USD is consolidating, being unable to pass through 1,306, represented by the weekly R1 and Jan 21 high. Once this resistance is overcome, the bullion will confirm its bullish intentions, setting a new
Another US dollar cross, this time with the Hong Kong dollar, has very successfully reached the upper trend-line of the channel down pattern, which was emerging since the last week of December 2014. At the moment the pair seems a bit range bound. From the upside it is limited both by 100 and 200-period SMAs, while from the south a
The USD/JPY currency pair made an unsuccessful attempt to bounce from the lower boundary of the bullish channel in order to growth further. The cross was surprisingly stopped by a rather weak resistance line represented by the daily pivot point at 118 and strengthened by the 55-hour SMA nine pips from above. At the same time, we assume that US
There is a double bottom emerging near the lower boundary of the bearish channel, as there are two distinct valleys formed with the help of the support at 0.76 (down-trend and monthly S2). Consequently, if the pair closes above the neck-line at 0.77 (Jan 20 high), there is a good chance the rally will extend higher, but at the same
Because of a strong demand area near 0.94 the currency pair was able to commence a recovery late December that still remains topical. Accordingly, the outlook is positive for AUD/CAD, but the bulls should be particularly wary of the resistances at 1.01 and 1.025, represented by the 2014 Aug low and 2014 Sep high, respectively. These levels are potential reversal
Following unusually calm year 2014, in January of this year gold began rising in price quite substantially. Since January 1 the XAU/USD cross gained around $100 and the bullish tendency is likely to persist both in the short and medium-term. The present pattern, however, looks more like the rising wedge, being that trading range is getting narrower every day. If
Since January 13 the AUD/SGD currency pair has been decreasing its trading range, which eventually led to emergence of the present wedge pattern. At the same time, the Australian dollar is gradually appreciating versus its Singaporean peer. Currently the pair is quite well supported by a dense cluster of demand levels from the south, meaning that they are not likely to
USD/SEK has been in a distinct up-trend since last year's mid-March, and with the start of December the rate of US Dollar's appreciation only accelerated, leading to formation of a new bullish channel. The pair has recently confirmed its long-term bullish intentions by surpassing the 2010 high.In the short run there is likely to be a downward correction, being that
Having established a solid support at 1.1560, USD/CAD is now extending the Nov 27-Dec 16 rally. The bullish outlook will remain valid as long as the rising trend-line (connects Dec 31 and Jan 19 lows) stays intact.In the near-term the risks are skewed to the downside, being that the currency pair has just touched the upper boundary of the upward-sloping
As seen from the chart, at the moment the British pound is trying to bounce to the upside against the Kiwi, even though the first attempt last week used to be unsuccessful. The main problem is created by a dense supply area around 1.97, represented by the monthly S1, weekly R1 and 100-period SMA.Concerning outlook for the foreseeable future, market
Following three days of continuous appreciation of the American dollar versus the Japanese yen, this currency pair managed to cross the upper trend-line of the broadening falling wedge pattern. The figure, in turn, was created back on December 20.At the moment we strongly assume the Greenback will be able to gain more value and even resume its long-term up-trend. From
During the first half of January the precious metal has appreciated by nearly 8%. Considering the price has formed a bullish channel during this time, there is a high likelihood gold is going to keep rising in value. This scenario is also reinforced by the technical indicators on three most relevant time-frames. However, in the short run we expect a
Following a period of relative stability observed during the last three months of 2014, the Euro started quickly losing ground against the kiwi. As a result, EUR/NZD is now forming a downward channel, and yesterday we also pointed out a possibility of the pair forming a broadening falling wedge. At the moment the rate is moving north, but the rally
The AUD/USD currency pair has created a rather rare triple bottom pattern, which in addition has high quality and magnitude levels at above 60%. For the time being the cross is trying to penetrate the upper boundary of the pattern. If successful, we may observe a strong climb of the Australian dollar versus the Greenback. Moreover, such a scenario is
Since the Christmas date of December 25 the single European currency has been underperforming the New Zealand's dollar. Moreover, the trading range tends to be rising; therefore, the broadening falling wedge pattern was eventually formed by this currency pair. Concerning the outlook for this pair's future, we assume the cross is likely to increase in value in the short-term, by reaching
At the moment GBP/AUD seems to be well-positioned for gains in the coming weeks. The currency pair has just confirmed the rising support line at 1.838, which is expected to keep guiding the Sterling further north against the Aussie, as it has been doing for the last 100+ days. The demand area is also reinforced by the 200-day SMA, meaning
The New Zealand Dollar has been consistently outperforming its Canadian counterpart during the first half of January, leading to formation of a bullish channel. There is a high chance this tendency will persist, though NZD/CAD is likely to retreat back to the 0.9250/00 area before another up-swing.If the demand represented by the up-trend, Jan 15 low and monthly R1 proves