The common European currency is simultaneously losing value against the Greenback in two descending channel patterns. The junior pattern represents the pair's bounce off from the upper trend line of the dominant pattern. Most recently the currency exchange rate passed the combined support of the 38.20% Fibonacci retracement level at 3.9227 and the 200-period SMA at 3.9202. As a result
The Australian Dollar is depreciating against the US Dollar simultaneously in two descending channel patterns. However, the currency exchange rate might soon begin a medium term surge. The reason for that is the fact that the active junior pattern has already done its task, which is to guide the currency exchange rate from the dominant channel's resistance to its support.
AUD/SGD had not attempted 1.0953 for two years before February when the area was attacked from beneath. The pair has since left the zone, but is still showing signs of bullishness as highs lose amplitude. A falling wedge has been leading the motion for the last few weeks and a close above 1.0569 would serve as a confirmation of a
After NZD/CHF broke a large-scale channel up on the daily time-frame to the downside, the pair has distanced itself from the pattern and entered a correction phase. The cross has established a trading range which it just confirmed for another time after a flattish upward motion. The current stickiness of the bottom part of the pattern signals risks below and
The Canadian Dollar is surging against the Swiss Franc in an ascending channel pattern, which is guiding the currency exchange rate in its rebound against the combined support level of the support lines of two dominant patterns and a Fibonacci retracement level. The relevant Fibonacci retracement levels for this pair are measured by connecting the 2016 high and 2016 November
The Pound has reversed its surge against the Greenback in an ascending channel pattern and formed a descending channel pattern, which has broken the lower trend line of the previously active channel. The now dominant patterns is aimed at the 23.60% Fibonacci retracement level, which is located at the 1.2321 level. The most relevant and in medium term effective Fibonacci
USD SEK launched a second attack at the significant 9.8810 level in a channel up pattern, but the area has been holding strong and now appears to be on its way to cause a break below the bottom trend-line of the formation. The flat motion might, however, be enough to let the pair above the strong area without jeopardising the
SGD/JPY slid from four-month highs at 82.09 to lose around four percent and now appears to be on its way to confirm a channel down in a small-scale falling wedge which is bound to break to the upside. The top boundary has already proved its recent stickiness despite the solid wave south which is most likely to not get to
The common European currency is depreciating against the Polish Zloty simultaneously in three descending channel patterns. The future situation is quite unclear, as the pair should surge in the medium term due to hitting the support line of one of the dominant patterns. However, the most junior pattern is holding the line and might still guide the currency exchange rate
The Greenback is surging against the Polish Zloty in an ascending channel pattern, which is a representation of the currency exchange rates rebound in the borders of a larger descending channel. The currency exchange rate is about to experience a bounce off against a resistance level. However, it is quite unclear against which resistance, as the 200-period SMA is moving
What used to be a channel down pattern on the hourly chart, has now lost amplitude for lows and upped its bullish potential as a falling wedge emerges. Following the double top on the daily chart, NZD/JPY showed solid downward momentum until just now. The hit at the upper trend-line might serve as a stepping stone to start another wave
The monthly downtrend added a second boundary to sketch a falling wedge on the hourly chart to set some bullish pressures into action. The GBP/JPY has just touched the upper bound of the pattern and entered a resistance cloud which is most likely to send the rate packing towards the lower trend-line around 137.02. There is a strong support cluster
There is almost no hope in sight for NZD/JPY with a double top on the daily chart and a strong downtrend flowing out of it. In addition, the pair has just under-stepped the 100-hour SMA and lies exactly below the extremely bearish crossover of the 55 and 100-hour SMAs, sending strong SELL signals to traders potentially leading to an even
The Sterling recently hit a strong resistance cluster against the Swiss Franc and as a result a medium term descending channel is in the formation. On a large scale the currency exchange rate is in an ascending channel pattern, which is set to struggle with the 23.60% Fibonacci retracement level at the 1.2595 level in the long term. The retracement
The Pound is in a complicated situation against the Canadian Dollar, as various types of lines can be drawn on the rate, and the situation seems like a mess after first glance. The currency exchange rate is simultaneously trading in three channel patterns, and two trend lines of various channels are also creating a triangle pattern. All in all, a
The Greenback is losing ground against the Russian Ruble also due to the reason that the Ruble is continuing its recovery from the events, which occurred around New Year's Eve of 2015/2016. The currency exchange rate is fluctuating simultaneously in two descending channel patterns. However, clues indicate that the situation is about to change. The reason for that is the
The common European currency continues to decline against the Russian Ruble, as the Ruble is recovering in the markets after the drastic fall, which it suffered at the end of 2015 and start of 2016. Most recently the currency exchange rate reached the upper trend line of a medium term descending channel pattern, which represents the pair's bounce off and
The Australian currency still remains against the Japanese Yen simultaneously in three various scale descending channel patterns. However, due to the fact that the currency exchange rate has reached and bounced off the support line of the most dominant channel the pair is set to surge. Most likely in the upcoming weeks a new short and medium term pattern will
The Australian Dollar is trading against the Swiss Franc simultaneously in two descending channel patterns. The junior channel is a representation of the currency exchange rates bounce off from the combined resistance of the 200-period SMA and the upper trend line if the dominant pattern at 0.7670 level. The channel is heading into the support provided by the 23.60% Fibonacci
On March 16 the Australian Dollar changed its direction against the New Zealand Dollar, as the currency exchange rate encountered the upper trend line of a medium term ascending channel pattern. Although it was expected that the only a short term decline will take place, the currency pair formed a new descending channel. By looking at the larger picture it
As a result of a rebound against a support level near the 50.00% Fibonacci retracement level at the 1.3930 level, the US Dollar is surging against the Singapore Dollar in a rising wedge pattern. The wedge is aimed at the combined resistance of the upper trend line of a dominant descending channel pattern and the 38.20% Fibonacci retracement level. Both
The US Dollar against the Norwegian Krona is in a complicated situation, as the currency exchange rate is simultaneously fluctuating in four various scale patterns. However, in general a surge is expected form the Buck against the Krona, and it can be observed occurring. Most recently the currency exchange rate encountered the resistance put up by the 23.60% Fibonacci retracement
The Greenback recently established an ascending channel pattern against the Swedish Krona. The channel represents the break of the upper trend line of a long term descending channel pattern by a medium sized ascending channel. Due to that factor it is assumed that the small scale pattern will remain in force until it reaches the upper trend line of the
The latest developments during the past four trading sessions on the SGD/JPY currency exchange rate have pressured for the need of a review of the rate. The hypothesis of a bounce off from the 200-period SMA fulfilled itself, as the currency exchange rate changed its direction, and the previously active ascending channel pattern has become obsolete. As a result a