The two-day dip of GBP/USD has allegedly come to an end with a double bottom formation, which has not broken the neckline yet. The pair is currently trading mid-pattern and is expected to target the neckline at 1.2615 next. The daily Pivot point at 1.2584, bolstered by the Ichimoku cloud as well as the 55 and 20-period SMAs, has now
Following a 2.8% dive over the last couple of days, GBP/NZD entered a descending triangle to continue the bearish themes after a consolidation. The pair is now making its way through the pattern towards the southern border and is likely to break below the support line of 1.7509 eventually. After exiting the red cloud resistance the pair will face just
After it appeared that CHF/JPY has been forming a rising wedge on the four-hour chart, it managed to take the form of a channel and cast some optimism in the technical outlook. The pair has just completed its retracement of the channel bottom boundary and is now likely to extend the downtrend into areas below. The first such area that
A rising wedge led CAD/HKD out of the four-month descending channel, which has now built up some bearish potential for a correction of the broken senior channel trend-line. The pair is now repeatedly approaching the upper trend-line of the wedge at 5.8839 which brings some more upside risks into the picture. While we still believe the pair will exit the
GBP/CHF gained 8.6% since early November while trading inside of rising wedge. The rate dipped underneath the bottom trend-line of the pattern on December 7 and has just executed a retracement of the broken trend-line. We now expect the pair to extend the bearish trend and tackle 1.2765, the weekly Pivot Point with added strength by the upper boundary of
What looked like an ascending channel a few days ago, has now taken the shape of a rising wedge for CAD/JPY. The last few weeks can be characterized by complete balance in supply and demand, just before bears gave in to bulls and the resistance at 86.11 broke. The pair is currently revisiting the broken trend-line and if it denies
Recent movements took the form of a descending triangle for AUD/NZD, suggesting that the one and a half year downtrend might still be in play. The pair has just broken the bottom trend-line of the triangle, and we expect it to fall as low as 1.0226 where the senior downtrend could cut downside potential. What makes us doubt a bearish
GBP/AUD took a small step above the two-day channel down pattern, which it had stepped out of for a few hours. The pair has just stepped underneath the bottom Bollinger Band at 1.6861 and has just one more level left at 1.6785 before it reaches the bottom trend-line at 1.6751. This fall should have to come almost vertical in order
Following a failed attempt at forming a double bottom at 0.9859, AUD/CAD entered a ranging market within a rectangle pattern. With supply and demand being in balance, it is now hard to tell whether a reversal is still on the table. We will look for signals at the support or resistance – 0.9859 and 0.9929 respectively – in order to
NZD/USD surged around 2.5% over the last two weeks, but is now losing bullish momentum as highs become lower inside of a rising wedge pattern. The latest wave south failed to reach the senior trend-line, recently sketching a new steeper one. On its way towards the upper trend-line of the wedge, NZD/USD will encounter 0.7148, 0.7153 and 0.7157 before a
GBP/JPY left 125.51, the October low, inside of an ascending channel pattern, which is currently trying to restrict the pair's movements from the downside. The rate has set a support level at 143.23 and an upside cap at 145.52, and it will have to either break one of them or exit the channel in its next movements. Other than the
USD/SEK respected technical theories and exited the rising wedge it had followed for three months to the downside. The pair is now guided by the 200-period SMA and could finalize the retracement it appears to be attempting. A tap at 9.2249 would open up a downtrend which should lead at least to 8.9776 with 9.1004, 9.0716 and 9.0205 on the
AUD/SGD maintained a consolidative nature in its movements, entering a symmetrical triangle as its latest expression of the lack of trend. The pair has just overstepped the bottom trend-line of the pattern at 1.0570 for the second consecutive time, suggesting a downward breakout, which is also supported by a newly sketched descending triangle. The floor is now set at 1.0560
Just when it started to look like Silver had taken up some trending-market characteristics after a month-long consolidation, it turned out XAG/USD needed another correction inside the bounds of a symmetrical triangle. While an uptrend should extend after the pattern is broke, the pair will have give more credible signals that an upside breakout to really point to a
GBP/CHF consolidated the uptrend in a symmetrical triangle, breaking it to the upside as predicted. The pair has currently been stalled by the daily R1 at 1.2982, which has led to a few red candles. Along with breaking the pattern, the pair pushed through a red Ichimoku cloud, setting immediate resistance at 1.2854. If the rate breaks above 1.2982, which
After setting a two week high at 1.0095, AUD/CAD sipped slowly and entered a consolidation phase inside of a symmetrical triangle. The pair has just broken the bottom trend-line of the triangle at 0.9891 and has extended a steep dive, which could require a consolidation. We will look for a retracement around 0.9893 which could be stalled by 0.9884 before
A high volatility consolidation led NZD/CAD to enter a rectangle from the upside. The pair has set resistance at 0.9505 and a ground at 0.9408, which it is likely to re-test on the current wave south. The rate is now struggling with the 100 and 55-period SMA confluence, strengthened by an Ichimoku cloud, which could make the dive flattish. In
EUR/GBP proved the downtrend unsustainable, exiting the falling wedge it had followed for two weeks to the upside. The pair has elevated above a red Ichimoku cloud and now faces resistance at 0.8443 and 0.8451/52 with more risk at 0.8467. The current dive cap lies at 0.8579 and it could come into play if the rate manages to climb as
Following a 5% loss in value, AUD/USD could be attempting a reversal with a double bottom formation. The pair will have to test 1.0073, the neckline, in order to give some more conclusive signals. The area is strengthened by the weekly R1 and Monthly Pivot Point and will require some decent momentum to get through the tough 0.9957/74 area
Following a break below the bottom trend-line of the year-long channel up pattern, NZD/USD retraced from the broken level to potentially extend the slip into more negative territory, and the 200-day SMA at 0.7053 could serve as the immediate ground, opening up 0.6927/6903 for tests if broken. The May low at 0.6694 could provide some decent demand pressures or even
CAD/JPY failed to break any patterns amid rising market uncertainty, steadily maintaining its track inside the channel up pattern. The pair is moving towards the upper trend-line of the pattern around 86.98 with some supply pressures around 86.11 bound to put up a battle on the way. Any potential losses are likely to be cut by 84.89/74, while April highs
CAD/CHF built up some bearish potential in a rising wedge pattern, adding an alternative trend-line in the last three sessions and breaking it on Monday morning. The pair is now on its way to the original bottom trend-line around 0.7589 and is likely to experience some hitches around 0.7597/94. The gloomy outlook is mainly dictated by the Italian referendum vote,
The Hong Kong Dollar continues to surge against the Japanese Yen in the already reviewed ascending channel pattern. The currency exchange rate bounced in limbo around the 50.00% Fibonacci retracement level before it finally broke it and surged on November 30. The pair is once more analyzed, as it has clearly revealed and once more reached the lower trend line
Silver is an interesting case due to the fact that the metal recently reached a long term descending channel's lower trend line and rebounded. As a result an ascending channel pattern is forming. Moreover, the commodity price is affected by the Fibonacci retracement levels, which connect December 2015 low level with 2016 August high levels. Most recently the metal's price