After tests of 118.19, the annual high, in December 2016, USD/JPY left the area and has now entered a conclusively bearish setting in a channel down pattern on the hourly chart. The pair is currently testing the upper boundary of the pattern at 110.66 and, while we expect it to stay inside the bounds of the pattern, there are upside
USD/CHF remains inside the bounds of the channel down pattern it has been following for three weeks already, giving little reason to doubt the trend. However, it is reasonable to doubt how long the pattern could hold and keep in the back of your head that it might have matured enough to show some inconsistencies soon. Immediate resistance lies at
The common European currency is surging against the Hong Kong Dollar simultaneously in two ascending channels. Most recently the currency exchange rate began the Monday's trading session above the resistance put up by the 38.20% Fibonacci retracement level at the 8.4111 mark. Due to this factor the currency pair is set to surge to the upper trend line of the
The Hong Kong Dollar is trading against the Japanese Yen simultaneously in two descending channel patterns. As it is often in the financial markets, there is a minor and a dominant pattern, as the minor channel represents the rates bounce off from the resistance of the dominant pattern's upper trend line. The rate is heading for the support level of
NZD/CHF had set a trading range with two test of the upper bound at 0.7051 and one at the bottom of 0.6948. The next attempt to test the area led to a break below, but might not be conclusive due to a falling wedge that could send the pair skyrocketing again. The strong area has been broken in the last
ZAR/JPY managed to break the bearish trend in 2016 and establish an upward-sloping trend-line on the daily chart, but has now lost amplitude for highs, suggesting that bears might once again take over the trend. The rate is currently making its way up towards the top bound of the wedge around 9.03, but will experience some hitches at 8.99 and
USD/MXN set an all-time high of 21.97 in January 2016, but then the Mexican Peso managed to depreciate and the pair extended a steep downfall which has lasted for three months already. The rate has, however, now sketched a falling wedge on the daily chart and recovered some of the previous bullish potential. The wedge is expected to break around
The Canadian Dollar is simultaneously trading in two descending channel patterns against the Swiss Franc. Most recently the currency exchange rate reached the combined support cluster made up of the lower trend lines of the two patterns. Although, it seems that the rate is making another attempt at passing the support cluster, it can be assumed that the rate is
The Australian Dollar has reversed its movement against the Canadian Dollar, as the currency exchange rate has bounced off the upper trend line of a long term ascending channel. As a result of that a short term descending channel has formed, which is heading down to the large scale pattern's lower trend line. However, before that is achieved by the
EUR/SEK set a new half-year low on the daily chart in early February, but managed to abandon the area to show a more promising outlook on the hourly chart. A channel up put an end to the small-scale down-wave and will require some more tests to confirm its significance. The pair is currently squeezed in between several levels mid-pattern and
After an uncharacteristic break of the upper trend-line of a descending triangle on the daily chart, GBP/CAD showed some more upside potential in a channel up pattern. The pair is currently testing the bottom boundary of the pattern and we expect it to bounce off and then target the top trend-line. There are, however, some downside risks to consider as
The Greenback is depreciating against the Polish Zloty in a descending channel, as the currency exchange rate has already passed two Fibonacci retracement levels. The currency pair is heading for the 61.80% Fibonacci retracement level, which is located at the 3.9250 mark. However, most recently the currency rate had a rebound against the channel's lower trend line, as the markets
The Pound continues to trade in an ascending channel against the US Dollar. However, new developments have pressured for a review of the situation. Most recently the short term channel seems to have encountered some sort of uncharted resistance. After a review, the high levels of those bounce offs were connected, and it can be observed that they are on
USD/SEK showed a downward sloping motion on the hourly chart in a bearish channel pattern which has now been confirmed two times on both sides, but might show some change of heart rather soon. The southward trend might be cut at 8.7403 which is the January 2016 low and we could look for a bounce to the upside. Until then
After setting an all-time high of 0.9118 in September 2016, EUR/GBP slipped and then entered a ranging motion. The pair has just finalized the attack on the upper range area and has entered a channel down pattern to lead it south again. While the channel has remained solid during the last week and a half, diminishing highs are showing some
There is a noticeable short term ascending channel pattern on the EUR/AUD currency pair's hourly chart. However, that short term and small range channel is only the representation of a move in the borders of two more dominant channels. On a medium scale the rate is also in an ascending channel, which is guiding the Euro to the upper trend
The US Dollar is depreciating against the Swiss Franc in a descending channel pattern, as the rate continues to move lower after encountering a notable level of support, represented by the 38.20% Fibonacci retracement level at the 1.0003 level. The Fibonacci retracement levels for this pair are measured by connecting the 2016 high and low levels. The currency exchange rate
USD/MXN looked rather bearish with a double top at 22.01 and several downward sloping patterns guiding the motion south. A senior channel has gained its ground with a multitude of confirmations and solid trend-lines and shows little reason to believe that it might break. The pair has just broken a short-term channel down that has served its purpose to lead
A double top at 118.28 for USD/JPY led the pair south starting December 2016, leading to tests of the recent support at 111.84. The pair has now stepped underneath the level while being bound by a channel down pattern, meaning that this could either be the beginning of a downtrend or just a false breakout. While the channel has not
The US Dollar is trading in a short term descending channel against the Russian Ruble, as the currency exchange rate recently broke out of a medium term ascending channel. The rate might move in the tight range of the descending pattern down to the lower trend line of a large scale descending channel. However, that is highly unlikely, as rarely
The US Dollar is depreciating against the Singapore Dollar in a medium term descending channel pattern. However, the medium scale pattern is about to become obsolete, as the currency exchange rate recently touched the lower trend line of a larger, dominant descending channel pattern. Due to this factor it can be assumed that a medium term ascent is in the
AUD/JPY soared to yearly highs at 87.38 in an accelerated motion, proving that the some time to execute a correction is needed on the daily chart and has therefore sketched an ascending triangle formation. The triangle brings little doubt that the pair will continue the surge when the upper trend-line is broke due to several reasons, including the false breakout
The common European currency is surging against the Russian Ruble in the medium term in an ascending channel pattern. Moreover, the short term descending channel, which has guided the rate for a week, is about to become obsolete, as the currency pair has encountered and rebounded against the lower trend line of the medium term ascending channel. During the rebound
The Australian Dollar is trading in an ascending channel pattern against the Swiss Franc. A month ago, on February 22, the currency pair booked a new high level, which serves as a basis for the measurement of the Fibonacci retracement levels. The retracement levels are measured by connecting the February high level with the 2016 low level. Most recently the