EUR/PLN slipped from annual highs and entered a flattish motion which has now turned into a falling wedge pattern, meaning that bulls could take over sometime soon. The pair is currently testing the bottom boundary of the pattern at 4.3789 and we would expect the rate to break the pattern to the upside and target 4.4265, the 2017 high –
Following a breakout from the rising wedge to the downside, NZD/CHF entered the bullish themes in an ascending channel pattern. The pair is now on its way towards the upper trend-line of the formation in a steep and conclusive motion, but we will look for 1.7144 to send it packing again, respecting the pattern. The way north will, however, be anything but smooth with strong
While GBP/USD showed solid signs of weakness in a head and shoulders and then channel down patter, it managed to break the latter to the upside, suggesting that a bullish outburst should follow. The pair is currently testing the 200-hour SMA and could now experience some flatness before eventually breaking through. What make the area even stronger are a set of other time-frame SMAs, which
What appeared to be a hopelessly ranging market in USD/CAD, has now taken the form of a head and shoulders pattern and built up potential for a reversal. The pair is currently testing the neckline of 1.3462 and in case of a breakout, a bullish outburst should follow. There is a strong supply area above the neckline at 1.3469/3480 where
AUD/SGD showed a rather ranging market on the 30 minute chart, but managed to show signs of an emerging uptrend bound by an ascending channel which is yet to show weakness. January 2 showed a lot of volatility on the upside, but the market has now re-entered regular fluctuations, and appears to now be targeting the upper boundary of the
While CHF/SGD broke the channel up it had been following for around a month to the upside, the pair has returned inside the bounds of the pattern and is now making its way towards the bottom trend-line at 1.4111, where we will look for a reversal into the next bullish wave. The pair will then target the upper boundary of
EUR/JPY stuck closely to May highs and confirmed it will not be addressing levels below in a falling wedge pattern. The rate has just broken the formation to the upside, which is consistent with the signal of the wedge, causing the rate to tackle the aforementioned high (based on daily chart) at 123.39 once again. In case the tests are
USD/JPY soared to levels unseen since January 2016 just to prove the level unsustainable and slip inside a channel down pattern. The pair is now sticking to the upper boundary at 117.56 and is supposed to slide towards the bottom boundary of 115.94 anytime soon. The scenario is supported by the rising wedge sketched on a smaller scale inside of
The Hong Kong Dollar moved the USD/HKD market on its own amid a Bank Holiday in the United States. A distinct downtrend was bound by the trend-lines of a descending channel, which led the pair away from half-year highs and appears to be sketching a shady head and shoulders formation. The pair is now making its way towards the bottom
USD/ZAR posted a year-long bear-trend on the daily chart, concluding it with a volatile but ranging market and recently forming a symmetrical triangle. The pattern implies that the downfall could extend soon and the pair could break its trading range to the downside by stepping underneath the 13.19 mark. A death cross formation just above the current rate is an
Silver entered a neat channel up pattern late December, but is currently losing volatility as highs become lower and more risk shifts to the downside. XAG/USD sketched a motion uncharacteristic for the pattern, which could imply that the pair will either once again attack the upper boundary and then go on to tests of the bottom one or that it
USD/PLN opened 2017 with a prominent leap above the falling wedge pattern at had formed previously and now appears to be gaining some downward momentum which will most likely lead to a retracement from the broken trend-line of 4.1837. Levels, such as 4.1934, 4.1898 and 4.1855 will mess with the momentum and could as well serve as a floor in
The US Dollar is only in one notable channel against the Singapore Dollar. The rate is in ascending channel pattern, which represents the Greenbacks gains against the Singapore Dollar for the past three months. Although that might seem simple, there are other factors that need to be examined and taken into account. First of all there is the significant force
The US Dollar is simultaneously trading in two channels against the Swedish Krona. On a larger scale the pair is in an ascending channel pattern. On a medium scale the pair trades in a descending channel, which is a representation of the pair's decline from the larger pattern's resistance line to its support line. However, the support line has already
GBP/CAD entered a flattish motion south over the last couple of weeks, sketching a descending channel on the way. The pattern shows no signs of weakness, meaning that we will look for the rate to maintain the bearish path both long and short-term, setting the bottom boundary as the next target at 1.6476. Immediate support lies at 1.6527 and then
Despite the sudden dip induced by a technical crash, NZD/CHF acted according to the rising wedge it traded inside of before the event by sinking below the bottom boundary. The pair is currently attempting a slip below the weekly Pivot Point of 0.7093 and we do not expect the level to hold, opening up 0.7086 and 0.7081 for tests. In
The US Dollar continues to surge against the Norwegian Krona in an ascending channel patterns. By patterns is meant the fact that there are three ascending channels of various scale. However, traders might be most interested how a short term channel formed as a result of the rates efforts to break out of a medium scale pattern. The short term
If one maps all of the channels, by drawing all of the lines connecting tops and lows of the Australian Dollar against the Japanese Yen, it is hard to understand what is actually happening. However, the situation is not unusual, as there are three channel's, which have to be marked to understand the rate's movements. First of all on a
A channel up in USD/CHF held steady for about a week before breaking Thursday morning. The next target now lies at 1.0235 and it appears that the pair will not be attempting a retracement more prominent than the miniature one it underwent immediately after the break below the pattern. In case it does, however, require some more consolidation, 1.0262 and
GBP/JPY sketched a bottom boundary to the downtrend of two days, creating a channel down to guide future movements. While the bottom boundary of the pattern in not particularly strong, we expect the trend to continue, setting the next target at 142.27 where the lower boundary lies. Short-term SMAs have conclusively stepped under the long-term ones, which suggests that the
The Canadian Dollar is simultaneously in two descending channel patterns against the Hong Kong Dollar. The smaller pattern formed in the borders of the larger as a result of a bounce off from the larger scale descending channel pattern's resistance line. The rate fell so drastically in the 12 hours after reaching the resistance line that the smaller pattern formed
The South African Rand is trading simultaneously in three channel patterns against the Japanese Yen. In addition, the two medium sized patterns are forming a smaller triangle. To tell apart the medium sized channels they have to be explained. One is the old one, which was the rates ascent to the large scale channel's resistance, and the second one is
EUR/JPY consolidated the flattish surging motion it had taken up earlier inside the bounds of a symmetrical triangle pattern. The pair has recently broken the formation and undergone a somewhat appropriate retracement and is currently on a downward sloping motion which is likely to be cut rather sooner than later and possibly make 123.40 the next target. The daily Pivot
The EUR/HKD market has been ranging for a while now, going from a wide range motion to a tight one over the last week or so. Resistance lies steadily at 8.1261 and the pair has been sticking to it in its latest movements. The most recent floor lies at 8.0979 and it now appears that the rate is making its