After bottoming out near 1.80 in 2013 GBP/NZD returned into the 2011-2012 trading range. Now the issue is whether the currency pair will manage to retain the upward momentum and reach the levels of 2010, as at the moment is suggested by the monthly technical indicators, or will the Sterling fail to surpass the 2014 high at 2.1065.Right now GBP/NZD
CHF/JPY has entered a correctional phase recently, following the Oct-Nov rally to 124.50. Right now the pair is trading at the 23.8% retracement of the latest up-move. But considering the bearishness of the technical indicators and toughness of the resistance at 122.40 (weekly R1, 200-period SMA, Dec 16 high and down-trend), the sell-off is expected to persist. A potential turning
At the moment GBP/USD is forming a bearish channel on the hourly chart, meaning the Sterling is likely to keep underperforming for now. The ‘sell' signal is also reinforced by the fact that the currency pair has just confirmed presence of the supply area around 1.5580, consisting of various resistances, including the weekly PP, down-trend line, 200-hour SMA and Dec
After a few days of sideways movement, Gold has finally bounced from the lower boundary of the bullish channel and started gaining value. At the moment the bullion is hovering at the level of 200-period SMA at $1,194 per ounce, which is also supported by the weekly pivot point at $1,190. Therefore, we assume this level we play a role
The robust appreciation of the American dollar versus Japanese yen started in the beginning of August. As a result, this development led to emergence of the bullish channel on a four-hour chart. Moreover, recently the cross has bounced from the lower trend-line of the pattern, meaning that the pace of growth is likely to increase. At the moment the pair
Having found a strong support near 0.86, the kiwi was able to stop the sell-off (since March) and start outperforming the Canadian Dollar. And while the bullish momentum will probably remain the main force during the next few months, locally the New Zealand Dollar appears to be weak.Even though the four-hour and daily technical indicators are largely giving ‘buy' signals,
After undergoing a bearish correction the fist half of this year USD/CAD managed to stabilise ahead of 1.06 and resume the up-trend that started back in September of 2012. As a result, during the next six months the currency pair formed a bullish channel. Accordingly, the long-term outlook for the US Dollar for now is considered to be positive.On the
Even though in the beginning of the previous week the AUD/CAD pair has successfully bounced from the upper trend-line of the pattern, it is still unable to near the lower boundary. The pair is constantly trading just in between two boundaries of the bearish channel. At the moment market sentiment is almost completely neutral, as the majority of bears over
Since Tuesday the Hong Kong dollar / Japanese yen currency pair has been trading near the upper trend-line on the bearish channel. At the moment the pair is bound between the pattern's resistance from the upside and two simple moving averages from the south. The former one, however, is also reinforced by the weekly and monthly R1, which are not
Already since mid-December the trading range of EUR/SEK has been constantly narrowing, and this has led to formation of a symmetrical triangle. Considering the overall bullish tendency the pair has been exhibiting since this year's October and the signals provided by the technical indicators, a break-out to the upside appears to be a more probable scenario than violation of the
Despite the fact that USD/CHF is trading within the boundaries of the bullish channel, the US Dollar is a sell at the moment. While the long-term outlook remains positive, the currency pair has just bumped into the upper edge of the pattern, implying there is going to be a downward correction before the bullish trend is resumed.The immediate support is
The Australian dollar has been trading downwards against the Singapore dollar since the third week of November. Despite the fact that the trading range is rather narrow, there were no cases when the price went outside boundaries of the bearish channel. Right now the pair is testing upper trend-line of the pattern. It is strengthened by the 55-period SMA; therefore,
In the beginning of the second week of December, the EUR/CAD cross began forming the descending triangle pattern, meaning that the trading range started to decrease. As a result, the pair came to the point when the eventual break-out is going to take place very soon. According to statistics, the downward break-out is taking place to the south in 64%
In the first half of December the bullion peaked out at 1,238 and since then it has been unable to regain a bullish momentum. Right now the fluctuations of XAU/USD are limited by two bearish trend-lines that are unlikely to let the price to rise above 1,200 but also it to fall beneath 1,166, at least in the short run.
Even though the value of the New Zealand Dollar managed to stabilise following a precipitous decline between July and September, the bears remained in control of the currency. As a result, NZD/USD formed a down-sloping channel. However, a recent bullish correction within the pattern did not reach the upper trend-line, but turned around at a new resistance that connects Nov 18
The Greenback has just neared the upper boundary of the broadening rising wedge figure and is currently testing this important level. At the moment it is strengthened by a considerable resistance line, represented by the monthly R2 at 0.9856. If the pair eventually manages to cross this level, we expect it to jump up to the monthly R3/weekly R1 at
The Australian currency has already been declining since the middle of November. However, this currency pair has only managed to form the present bearish channel during first days of December. On December 17 it has touched the lower boundary of the channel and since then it is gradually rising in value towards the upper trend-line. However, it can be seen
The pair is entering narrower trading range, as it is moving closer to the apex of the triangle formation that started at the very end of November. This might be the case, when we do not see a sharp break-out to end the pattern. As the majority of the technical indicators in all time frames are neutral. Also there is a
The 18-nation currency has dropped below the 1.23 mark against the Greenback once again, after the pair rebounded above 1.25 at the middle of December. Moreover, the decline has pushed the pair into a falling wedge pattern. Currently, the pair is challenging the monthly S2 at 1.2230, this level has not been breached since 2012. Nonetheless, with a help of the
Following testing of the upper boundary of present triangle pattern, the Euro started depreciating sharply, thus breaching a number of considerable support lines and the lower trend-line. The currency pair crossed 55, 100 and 200-period SMAs and the monthly PP at 1.5938 with a relative ease. The current trading level is located right between daily PP and daily S1, as
CHF/JPY pair has just approached the upper boundary of the bearish channel. Therefore, the next few hours are going to determine future development of Swiss franc versus Japanese yen. At the moment there are mixed signals on what is likely to happen. From one side, majority of market participants (74%) believe that the trend-line, which is reinforced by daily R2,
Since an encounter with the resistance at 1.7670 in the first quarter the sellers have been in full control of EUR/SGD, forcing the pair to descend to 1.60. But now the rate appears to be trapped between two critical levels, namely the 2014 low and Dec high.In a base case scenario, when the support is broken, the 2013 low at
The Australian Dollar has been outperformed by the Canadian peer already since early September. However, this broadening falling wedge pattern started to form, after a period of consolidation through October. The bearish pressure is not increasing anymore and with the low volatility the probability of continuous decline is getting smaller. Nonetheless, the 4H technical studies are still bearish, thus the
After reaching the monthly S1 at 181.60 on 16th of December the pair started to from a falling wedge pattern, as a bullish impetus was received near the level. The trading range is narrowing and thereby the possibility of a break-out is increasing. Although, the SWFX traders' sentiment is neutral for the time being with 52.42% of them having opened short