At the moment the USD/CAD currency cross is testing the lower boundary of the bullish channel, which was reached a couple of hours ago. Taking into account the present market conditions, the pair will most likely manage to bounce from this line and trade upwards in the medium-term. The closest support for the cross is provided by the 1.1525 level
The Australian currency has been in a decline phase versus the American dollar already for a long period of time, which led to formation of the bearish channel on an hourly chart in the beginning of November. In the meantime, the present pattern's low on the level of lower trend-line is located at 0.8108, from which the Aussie bounced to
The British currency similarly to most of the other currencies has outperformed the Aussie in the last weeks. Moreover, the pair started to form a bullish channel on 28th of November. Currently, the pair is underpinned by the monthly R2 and daily PP at 1.9102/45. That could potentially push the pair higher towards the weekly R2 at 1.9358. And even though
After a period of consolidation on October and November, the Aussie's strength started to fade, as the pair fell. While on 5th of December the currency pair started to form a broadening falling wedge pattern. The pair has reached the upper trend-line of the pattern that is above the 1.07 level. The technical indicators are mixed, as they are pointed in
The Pound/Kiwi cross started forming the present channel down pattern in the beginning of October, since then covering more than 230 candles. On December 9, the pair bounced from the upper trend-line and is getting ready to lose value in the foreseeable future. However, there is a tough demand zone ahead, which is located around 2.01 (monthly and weekly PP),
Despite successful bounce from the lower trend-line of the current pattern, the Swiss franc is still unable to gain enough bullish momentum to reach the upper boundary. The CHF/JPY pair has already been trading sideways around 121.50 for a third consecutive day. However, it should be noticed that at the moment this pair is limited by a considerable supply area
USD/CAD continues to be bullish, as it has been since this year's July. And that has led to a formation of yet another bullish pattern—channel up. At the moment, the pair is trading around the monthly R2 and weekly R1 and it is still on a strong up-trend. Moreover, the majority of the 4H and weekly technical studies are still bullish,
Even though NZD/USD has slow downed its decline, the pair is still falling gradually. It has not managed to surpass the 0.80 mark and that has pushed the pair into a falling wedge pattern. As mentioned the Kiwi Dollar is struggling to breach the 0.80 level and that has pushed the pair lower. Most likely the pair will not find the
Since the middle of November the New Zealand's currency is falling against American dollar. As a result, the pair managed to create a falling wedge pattern on the four-hour chart. Recently, the cross touched the pattern's resistance for two times, but it still seems that the overall intention of the Kiwi is biased in favour of a decline. On the
It seems that the US dollar is getting ready to decline further in its pair with the Japanese yen. After weeks of confident gains, the USD/JPY pair started losing ground on December 8 and formed a bearish channel during last two weeks. At the moment it is testing the lower boundary of the pattern and we expect it to be
Since late September the pair has been falling with lower highs and lower lows. That also has resulted into a formation of a bearish channel. The trading range of the pattern is rather wide and the GBP/NZD has been hovering around the upper trend-line for some time. Although, its not completely clear whether it is a sign of the bulls forming
The CAD/JPY reached the highest trading level this year at 106.54 on early December. However, the decline ever since then has pushed the pair into a broadening falling wedge pattern. Now the pair has slid to as low as the 100 mark, which is also represented by the monthly S1 and daily PP at 100.42/19. And it seems that the current
Despite the fact the Cable is currently testing strength of the upper boundary of the bearish channel, we do not expect it to succeed in the long-term to consolidate above this level. The pattern's resistance is reinforced by two major obstacles, represented by the monthly pivot point at 1.5755 and 200-period SMA just below it. They are strong enough to
After the AUD/CHF currency pair touched the upper boundary of the present, rather narrow falling wedge pattern, it is gradually losing value, hovering in the direction of the lower trend-line, which it is expected to be reached soon. Even though one-hour technical indicators are giving mixed signals at the moment, four-hour and daily ones are suggesting the pair will lose
The pair is consolidating around the 1.23/1.24 levels and that has pushed the pair into a triangle pattern. Currently, the apex of the triangle pattern has been reached and that could mean the end to the period of consolidation. To our mind the next move is to the downside, despite the fact that the short-term (4H) technical studies are pointing to
The Aussie continue to underperform relative to the US Dollar; however, after finding a support level around 0.82 it managed to form a descending triangle pattern. The pattern has already left the boundaries of the pattern; nonetheless, it still remains supported at the same level. Therefore, we think that the break-out is still to come and according to SWFX traders' opinion
The cross between American and Singaporean dollar is gradually approaching the lower trend-line of the bullish pattern. Therefore, the pair will be in focus of traders during the next couple of days. Daily and weekly technical indicators are assuming the pair will manage to bounce from this important support and trade higher. This idea is also supported by the vast majority
Since November 4 the Dollar/Franc currency pair has been decreasing its trading range, which eventually led to formation of the triangle pattern. On Monday, the pair reached a point, where the break-out is going to take place and we assume it to happen to the upside. The cross is already testing strength of the upper boundary at 0.9652. If successful,
The pair has been moving upwards starting from May; moreover, it managed to form a bullish pattern in the recent weeks. USD/SEK is gradually moving towards the 7.70 level; however, to reach it the pair will have to face several strong resistance levels. Nevertheless, with the bullish 4H and daily technical studies it could be more realistic. At the same
The pair has entered a period of correction and by doing that it also has formed a 62-bar long triangle pattern. The pair has already reached the very apex of the pattern, thus we could wait for a break-out; although, a continuation of trading in the same range is also possible. There is also uncertainty among the traders' as the amount
USD/TRY has broken out of the major symmetrical triangle to the upside after trading between two converging trend-lines for 21 months. This promises further strengthening of the US Dollar against the Turkish Lira in the foreseeable future.However, first, there is likely to be a relatively small bearish pull-back down to 2.2840 before the currency pair re-tests a cluster of resistances
Yesterday, the HKD/JPY currency pair reached the upper boundary of the bearish channel and since then it has been depreciating. At the moment the only obstacle for the pair on its way to the lower trend-line is represented by the daily S1 at 15.16, which is not assumed to hold the Hong Kong's dollar from losing value for a long
Since November 3 the EUR/SEK currency cross has been appreciating, which led to formation of the rising wedge pattern. It, however, implies that the trading range is decreasing constantly along with trading volume. In the middle of the next week we would expect a break-out from the pattern; however, a direction is not fully clear at the moment. Technical indicators
Similarly to AUD/JPY, also here the Aussie is the underperformer. However, this down-trend started already at the beginning of November, with a falling wedge pattern forming by the end of the month. Currently, AYD/CAD is close to reaching the 0.94 level and that might be the case, as the daily and weekly S1s were approached yesterday. The majority of the daily