EUR/CAD managed to break the strong resistance area at 1.4282, which had bound a ranging motion from ht upside. The pair has already executed a retracement of the broken area and is now paving the way for a larger-scale surge which would set the next target at 1.4523/4555. The current motion will, however, require some strong bullish pressures to stick
USD/NOK tried to launch a second attack at December 2016 highs, but fell short and set the latest peak at 8.6220, but bounced back to show a 2.5% slip. However, lows have lost volume and led to a falling wedge formation on the hourly chart, which looks mature enough to break immediately and to the upside. Immediate resistance lies at
ZAR/JPY continued its way into areas unconquered since 2015 and managed to show solid bullish potential by confirming an upward sloping channel on the hourly chart. The ultimate target could now lie at 9.203, the resistance of September and October 2015 where supply could take over and lead to a slide. The pair is currently squeezed in between a set
The Pound is surging against the US Dollar in an ascending channel pattern on the hourly chart. However, on a larger scale the currency exchange rate is moving lower in a descending channel. The minor pattern is a representation of the rates surge from the dominant channel's support line to its resistance line. It is most likely that the pair
The Aussie is surging on the daily chart against the Loonie in an ascending channel pattern, which is breaking one by one through Fibonacci retracement levels. The Fibonacci retracement levels are measured by connecting the 2016 high level and the 2015 low level. The retracement levels have been affecting the currency pair's movements for the past two years. It can
CHF/SGD attempted to recover from the 3.3% slip it posted over the last month or so, and sketched a combination of two patterns that give out very different signals on the hourly time-frame. While highs losing amplitude suggest that there might be some bearish potential accumulating, a newly sketched channel up pattern denies a reversal, but might just be too
Following the December attack at the 2015 high of 7.1549, USD/DKK established a downward-sloping channel, which has now added an additional boundary for diminishing highs that point to a falling wedge pattern. We will look for the upper boundary of the wedge to immediately break at 6.9079 and for a steep surge to dash through the resistance of 6.9140 with
The US Dollar still remains in the previously already twice reviewed descending channel pattern against the Mexican Peso. The rate is already approaching the 38.20% Fibonacci retracement level, which is located at the 18.9579 level. The Fibonacci retracement levels are measured on this pair by connecting the 2016 low and high levels. The rate is most likely set to stop
The common European currency in the previous weeks has formed an ascending channel pattern against the US Dollar, as the currency exchange rate has broken out of a previously active medium scale descending channel pattern. The break out and the channel up pattern formed in the aftermath of the rate reaching the lower trend line of the almost three month
EUR/GBP fell short of posting a second successful attempt at the January high of 0.8842 and broke the nearly perfect channel up pattern to sketch another one in the opposite direction. The pair has just confirmed the trend-lines enough to make the pattern at least somewhat credible, meaning that we will look for a fall to the bottom boundary at
EUR/JPY failed to step above the nine-month high of 123.43, showing the fourth consecutive unsuccessful attempt, this time not even touching it. The pair has now sketched a channel down pattern on the hourly chart which appears to be still holding strong. It is currently in the middle of the pattern and on its way towards the bottom trend-line around
The Canadian Dollar is trading simultaneously in three descending channel patterns against the Swiss Franc. However, clues indicate that the currency exchange rate is about to surge in the near future. The pair has reached the lower trend line of the dominant, large scale descending channel. After two attempts to pass it the currency pair rebounded, and most recently
The common European currency is in an ascending channel pattern against the Hong Kong Dollar on a medium scale. However, the currency exchange rate has already reached and bounced off from the upper trend line of the dominant, long term descending channel pattern. Due to this factor the currency pair is most likely set to move lower and pass the
EUR/TRY put an end to the promising upward motion within a small-scale channel down pattern, destroying any hopes that the repeated attack on the all-time high of 4.1665 might be successful. The pair posted a double top on the hourly chart at 4.0145 and went on to form the bearish pattern, inside which it hit the 3.9670/57 with the last
GBP/AUD attempted to abandon the three and a half-year low of 1.5913 which it tested in October 2016, but has not been conclusively successful yet as a ranging motion has emerged on several time frames. The pair has sketched a symmetrical triangle on the hourly chart which suggests that the downward motion should extend below the critical area. The rate
The long lasting ascending channel, which guided the price of silver higher since the start of December has run into a problem. As a result of the commodity price encountering the upper trend line of the long term pattern a descending channel in the matter of a couple weeks pushed the rate lower to the combined support level of the
The US Dollar is trading in a descending short term channel against the Swiss Franc. However, that does not indicate that the currency exchange rate is set to decline, as the pair has already reached the lower trend line of a dominant pattern. Most recently the Greenback rebounded against the Swiss Franc due to the encounter of the before mentioned
Gold set a four-month high at 1,258.62, but did not manage to sustain the area and started a fall inside the bounds of a channel down pattern. XAU/USD could ultimately confirm the bearish potential in a head-and-shoulders pattern with a neck-line at 1,188.64, meaning that the pair's bounce near the area and violation of the upper boundary, should not be
GBP/CHF sketched a channel down pattern on the hourly chart, signalling a downtrend, but then turned into a falling wedge formation with a broken upper trend-line. The pair corrected the breakout and then went on to re-enter the pattern in a very steep southward motion. The steep motion is bound by 1.2263 and 1.2240 from above and below respectively and
During the latest fundamental turmoil in Turkey the Turkish Lira has lost value against the US Dollar in a large scale channel pattern, which can be seen on the USD/TRY exchange rate. Most recently a medium scale pattern lead the rate down to the lower trend line of the large scale pattern. As a result of a rebound an ascending
The common European currency is in an ascending channel pattern against the Turkish Lira. The pattern came into existence because the currency exchange rate rebounded against the 38.20% Fibonacci retracement level, which is located at 3.7761 level. The ascending channel is the representation of the resulting surge. During the move the currency pair has broken through also the resistance of
After setting an all-time high at 16.94, USD/ZAR started an extensive downfall and has been maintaining it ever since. It set a channel down pattern to frame the motion for the last three months or so, but managed to break it to the upside, giving out some fairly bullish signals over the last couple of days. The pair hit the
A second attempt at launching an attack on December highs of 118.28 turned out unsuccessful with a head and shoulders formation on the hourly scale. The shoulders lie at 114.90, while the top is set at 115.43, and the pair has just broken the neckline of 114.71 to show a conclusive bearish signal. However, it appears that the pair is
EUR/NZD managed to abandon 1.4634, the two-year low and showed some decent bullish momentum immediately after the surge had extended. The pair changed the steepness of the motion for a few times before a channel up pattern conclusively emerged and led its movements for the whole previous week. The rate opened with a bearish movement on Monday and slipped to