USD/HKD will be highly volatile. Therefore, even despite the fact this is not one of the major currency pairs, traders will have a great opportunity to open positions as soon as the price penetrates either higher or lower pattern's boundary. Statistically, descending triangles are penetrated to the downside in 64% of the time. Moreover, technical indicators on a 4H and
After touching 1.5829 on January 24, the single currency began its depreciation versus the Aussie, which lasts until now. On April 10 the pair refreshed this year's low, however, was not able to move any lower, hence 1.4853 can be considered as a key level for short traders. After bouncing back from the lower boundary, the pair headed towards the
A very long, 336-bar long, channel up pattern formed by AUD/USD seems to have finally come to an end. The currency pair has recently tumbled below the lower boundary of the tunnel as well as below the 200-bar SMA that has been meandering just beneath the pattern's support at 0.9247 for more than a month. This suggests us that a
Another rising wedge pattern but this time shaped by USD/NOK has been recently broken through. The pair dived below the lower limit of the 208-bar long formation and has been trading there for two hours already. A bearish breakout from the rising wedge is the key indication of the forthcoming sell-off. This is also reinforced by the SWFX data-over 70%
An advancement of the U.S. Dollar against the South African Rand started at a six-month low of 10.3604 reached in the first part of April. Since then, the pair has been on the rise and started to shape a rising wedge pattern later in the month. At the moment, the currency pair is vacillating below the 50-hour SMA at 10.6403,
The Great British Pound has been appreciating against the New Zealand Dollar since the end of March when the pair touched a six-month low of 1.9086. However, a distinct upside trend appeared only when the currency couple entered a bullish channel almost a month later on April 24. Now the pattern still is relatively short, only 62-bar long, but its quality
While the U.S. Dollar is underperforming relative to the Swiss Franc, it manages to gain ground against its Singapore counterpart. And if the support at 1.2545, consisting of the 200-hour SMA and rising support line, stops the current bearish correction and triggers buying, the resistance at 1.26 will most likely be USD/SGD's next destination.In the meantime, although the technical indicators
As USD/CHF proved to be unable to cross 0.8954 at the very beginning of April, it started forming a downward-sloping channel. And, judging by the technical indicators, the currency pair is likely to remain bearish in the nearest future.Additional reason to believe that the U.S. Dollar is going to depreciate is the currency pair's proximity to the upper trend-line of
The outlook for the Sterling is bullish, both from the perspective of technical and fundamental analysis. Therefore, all GBP-crosses can soon reach important resistance levels. A slight majority of Dukascopy traders are expecting the pair to appreciate, while technicals on a daily chart are pointing at pairs appreciation. There are two key levels for the long traders, located at 1.8211
The EUR/HKD is not one of the main currency pairs, though, it can be highly attractive for investors in the coming days. Triangle patterns represent great opportunity for traders, who seek for high profit in a short period time. On May 1 both upper and lower trend lines will converge, and the trading range will be equal to zero. Market
After a November-January sell-off AUD/NZD managed to stabilise near 1.0566, which has proven to be a reliable support level. As a result, there are now two prominent troughs standing next to each other, which implies a potential reversal of the bearish trend. Apparently, the SWFX market sees this scenario as very likely, being that 74% of open positions are long.
The 88-bar long triangle pattern formed by USD/CHF originated not far away from a three-year low of 0.8698 hit in mid-March. Despite being relatively short, the pattern has both quality and magnitude above average. Several hours earlier, the pair broke out of the pattern and now is trading below the lower limit and the 200-bar SMA at 0.8826. A dive
USD/CAD managed to stop its plunge from the highest level since 2009 of 1.1279 in the first days of April and shortly after that the instrument commenced formation of an ascending triangle. Having approached the apex, the pair exited the bullish pattern but the breakout did not lead to either a jump or a decline since the pair is trapped by
A jump to a one-month high of 7.7677 provoked an accelerating decline of USD/HKD that lasted during more than a month and ended only when the pair touched a three-month low of 7.7520 on April 22. This low gave the pair an impulse to erase some of the previous losses and pushed it into an ascending triangle pattern. However, the
After a two-week retreat from a five-year high of 1.5584, the Euro changed its trend against the Canadian Dollar and entered a 191-bar long rising wedge pattern. At the moment, the instrument is stuck in its 50-hour SMA at 1.5254; however, this SMA is not likely to withstand selling pressure for a long time as over 70% of market players at
We have already discussed this trade pattern earlier this week, however, it is getting even more attractive, as price is moving closer to the apex. The pair is still trading in boundaries of the pattern, the range, however, is constantly narrowing, and trading volumes are decreasing, meaning a breakout is inevitable. Statistically, the breakout is upward 54% of the time,
The EUR/CHF is moving closer to the 1.20-mark, which will trigger immediate action from the SNB. Still, the pair has a potential to depreciate, and according to the channel down pattern, the trend is bearish. While market sentiment is strongly bullish (70%), technical indicators on a variety of timeframes are pointing into the opposite direction. Nonetheless, the outlook for the
Although for the most part of this month the Aussie has been moving south, the exchange rate is still within the boundaries of the three-month bullish channel. Accordingly, unless AUD/USD breaches the key support at 0.9255 (the lower up-trend line), the outlook should remain positive. Once the market confirms this level, the pair will be expected to commence a robust
There is a potential bullish channel currently emerging on the four-hour chart of GBP/NZD. This pattern implies the up-trend support line at 1.9466, which safeguards the positive outlook on the currency pair and should be able to push the price towards the upper boundary of the positively-sloped corridor at 1.9770.And while some of the daily technical indicators (MACD, AROON and
The Great British Pound has been on the rise versus its U.S. counterpart since the beginning of July. The record-long winning streak sent the currency pair to a five-year high of 1.6851 hit on April 18, the day when GBP/USD touched the upper boundary of the 115-bar long channel up pattern. Now the pair is manoeuvring in tandem with its 50-bar
During more than three weeks ended April 11, the single European currency was losing ground against the Norwegian Krone. The pair ceased its slump only when it managed to enter an upward-sloping gradually converging tunnel where the instrument had been trading for almost 190 hours. EUR/NOK jumped to a one-month high of 8.3039 on April 24 that lies above the
A one-month long decline came to an end in mid-April when the U.S. Dollar commenced its appreciation against the Turkish Lira. The longest part of the advancement has been developing within the boundaries of the 162-bar long bullish corridor. At the moment, the currency couple is vacillating slightly below the 200-hour SMA at 2.1364 and may re-approach this formidable resistance before
EUR/PLN halted its depreciation in the very beginning of April and shortly after started to form an ascending triangle pattern. Recently, the pair has attempted to break out of the 174-bar long formation but the breakout was false and the currency couple now is again surrounded by the triangle lines. In the foreseeable future, the pair of two European currencies
During the period between Apr 11 and Apr 21 EUR/USD was constantly trading next to the 200-hour SMA. But recently the currency pair has overcome the gravity of the long-term moving average and commenced a recovery. However, at the moment the rate is facing a number of tough obstacles that may not let the common currency to continue developing the