The American dollar has eventually reached the lower trend-line of the wedge pattern, in the direction of which it moved since the end of the previous week. The pair's ability to cross the pattern's support will determine it's future development. As suggested by medium and long-term technical indicators, the US currency will succeed in completing this mission and is likely
The Aussie has been targeting the 1.13 level for most of the second part of this year; however, unsuccessfully. A failure at that level has sent the pair lower and it has formed a bearish channel. The current channel down pattern could be a part of a longer–term triple bottom pattern. Nevertheless, at the moment the pair is approaching a cluster
Just recently the pair reached the highest level this year at 149.14; however, the Euro did not manage to hold its positions this high. From this point onwards a correction phase started, which also created a triangle pattern. EUR/JPY is trading at the very apex of the triangle; therefore, a break-out might be anticipated. The shorter-term technical indicators are to the
The single currency has just neared the pattern's resistance, which is located at 1.5966. At the moment the pair is testing this important supply zone. In case of success and confirmation of the pattern, the Euro is likely to advance up to the monthly pivot point at 1.6087 in a short period of time.On the other hand,, the opposite scenario
Following a confirmation of the triangle pattern, which started emerging on a hourly chart in the end of October, the Kiwi is in a good position to lose value against the Greenback. The bearish pressure was strong enough to breach some strong demand areas, including the one around 0.7806 (weekly S1 and daily S2). We assume the pair will decline
The pair started to enter narrower range at the beginning of November and that has helped the pair to form a triangle pattern. At the moment the Aussie is trading around the lower trend-line of the pattern, while at the same time it is also nearing the triangle's apex. Most likely the traders will not have to wait long for a
A 409-bar long falling wedge pattern started to form after the GBP/USD cross failed to surpass the 1.62 level on 28th of October. The Pound continues to underperform against the US Dollar; however, at the moment there is strong upside pressure, as the pair has climbed above the pattern's resistance line. The 1H and daily technical studies are pointing to the
The shared currency has been depreciating against the Buck since the middle of September, as it has led to emergence of the bearish channel on a four-hour chart.The recent recovery of the Euro, which followed a touch of the lower boundary of the pattern, was stalled by the 200-period SMA just below 1.26, which is also reinforced by the monthly
The USD/TRY is still trading within the boundaries of the double bottom pattern. After forming the second low, the pair decided rise and is currently facing the daily R1 at 2.2301. Despite that, the only strong resistance, which has enough strength to stop the Greenback from gaining value, is located at 2.2389 (weekly R1) just below the pattern's trend-line. The
Since the middle of July, when the NZD/USD cross reached the highest level this year at 0.8838, the pair has been gradually declining. However, more recently, namely on 7th of November, the pair reached the lowest level this year embarking on a new upward trend. The Kiwi is now targeting the 0.80 level, which is represented also by the weekly and
EUR/NZD continues to fluctuate between two parallel trend-lines, as it has recently penetrated a tough support represented by the 200-day SMA and monthly S1. Now the nearest significant demand is supposed to be 180 pips to the south, at 1.5540, where the monthly S3 coincides with the Sep low. However, the sell-off is expected to extend notably lower, namely to
GBP/AUD peaked at 1.8654 on sixth of November and since then the pair has slid below the 1.80 mark. Meanwhile, a formation of a broadening falling wedge pattern has occurred. The pair has recovered above the 1.80 mark, after falling below the level last week; however, most likely the Pound will retreat below the major level once again. A distinct
Being unable to overcome the resistance between 2.08 and 2.105 during the last two months, the bulls gave up, which led to formation of a bearish channel. Accordingly, GBP/NZD should now be capped by the supply at 2.0038, where the weekly pivot point merges with the Nov 19 high and with a down-trend. The short-term objective for the rate is
The current outlook on USD/PLN is strongly bullish. The currency pair has just slid down to a major demand area at 3.3462, and it is now in a good position to update November maximum. The mentioned support, apart from being implied by the monthly PP and 200-period SMA, is also reinforced by a three-month up-trend, namely the lower boundary of
After nearing the 1.1800 level at September, the pair started to decline sharply. However, the support around the weekly S2 at 1.1028 halted the drop and helped to form a double bottom pattern. Nonetheless, at the moment the AUD/SGD cross is trying to form triple bottom pattern, after a failure to break above the pattern's neckline around the 1.14 mark. The
The pair has been on a sideways trend for most of November; however, now at the second part of the month the pair has started to form a rising wedge pattern. Currently, the pair is facing the lower trend-line, as bears are trying to drag the pair below the level. With the mixed technical levels this might be the case. The
Even though the pair's appreciation rate decreased slightly, it is still constantly gaining value since the beginning of May, when this year's low was reached at the 5.3334 mark.At the moment the Greenback is underperforming the Danish krona after the pair hit the upper trend-line of the pattern at 6.0192. According to short-term technical indicators, the Buck will continue losing
Despite losing a considerable ground against US dollar, the Sterling entered a period of stabilization last week, thus forming a double bottom pattern. At the moment pair is recovering from the second low of the figure and nearing the resistance line, which will determine the pair's future development. We expect it to bounce back and trade downwards, as the resistance at
The GBP/CAD cross has been trading inside the bearish pattern since early November, after reaching a three month high at 1.8290.The currency pair is nearing the upper trend line of the pattern that is located just few pips away from the weekly PP at 1.7811. Most likely the Pound will reach the resistance line; however, a bullish break-out is not
The Euro has been loosing ground against the Hong Kong's Dollar already since the beginning of May; moreover, it entered a broadening falling wedge pattern on 16th of October. The formation of the falling wedge pattern could point on changes in the current trend, since this is a reversal pattern. The SWFX market participants have the same idea about the
The most popular currency pair is trading upwards for a third consecutive week, during which the shared currency managed to gain as many as 200 pips. At the same time, we tend to be rather pessimistic on pair's future development, taking into account the long-term negative trend of the cross and a number of significant resistances ahead. They are likely
The US currency is rapidly approaching the upper boundary of the bullish channel, as a successful bounce from the lower trend-line at 1.2978 gave bulls a considerable momentum in order to gain value. Since then the pair has covered a number of important resistances, including daily R1, R2 and R3. At the moment the only obstacle before the upper trend-line
It seems that depreciation of the Australian dollar versus its Canadian counterpart is likely to continue for a long period of time. Trading inside the falling wedge, Aussie is approaching the lower boundary of the pattern at the moment. However, there is a high chance that this support line, strengthened by weekly S1 at 0.9793, will be eventually breached to
The American dollar has just confirmed the ascending triangle pattern on an hourly chart versus the Japanese yen. The currency crossed the upper boundary and is now getting ready to gain further value and continue with its long-term bullish trend. The idea is shared by hourly and daily technical indicators, which give bullish signals at the moment. At the same