Following an encounter with 93.32 CAD/JPY has been in a strong up-trend, piercing through various resistances, including the 200-hour SMA that now acts as the support. As a result, the currency pair has formed an upward-sloping channel.Lately, however, the accelerated pace of loony's appreciation relative to the Japanese Yen has notably slowed down, which has led to a test of
Not so long ago USD/CHF found strong support at 0.8968 which helped the currency pair to commence a recovery. However, the U.S. Dollar has recently run into the resistance level at 0.9136 that is not letting the appreciation to carry on.Meanwhile, every unsuccessful attempt of the price to surge has led to a dip which in turn was stopped by
USD/ZAR has been in a down-trend for more than 150 hours already, gradually descending from a high of 10.1699. During this period the currency pair has been consistently respecting two parallel trend-lines that now form the boundaries of the bearish channel with the resistance at 9.9535 (strengthened by the 200-hour SMA) and the support at 9.8453.However, the technical indicators on
Prior to the formation of the pattern pair was range bound between 8.55 and 8.72 for slightly more than two weeks. It is worth pointing out that the pair ahs been trading in the 8.50 and 8.89 boundaries since the end of April. Taking in to account the aggregate readings of the medium and long term technicals it might be
Pairh as been in a clear downtrend since the first week September, but seems to have stabilized after a 850 dip in the course of 4 hours slightly prior to the formation of the pattern. After the recent bounce from the pattern's resistance it is approaching September low at 3.0636 (not included in the table in order to await confusion).
USD/SGD currency pair has formed a descending triangle pattern on the August 12 and it seems the pattern is moving to its apex as both trend lines will converge on October 18– a day after a possible U.S. default. Despite the result of budget talks in the White House the pair can be highly volatile. Recently, bulls made an attempt
After a relatively flat opening on Monday, the pair surged almost 30 pips, however later, moved back to 0.9091– slightly above the lower trend line. According to aggregate technical indicators, the pair is likely to stay around current level in the nearest future, and only in the long term the penetration of support line is expected. While 73% of all
Pair has been narrowing it's trading range since the end of January, when it reached 2013 high at 7.4642. Prior to that we can see a 7 month long, 340 pip rally. Despite that, effect of the Fibonacci retracements, if there was one, is negligible at the moment. Pair has been trading in a 60 pip range for the past
EUR/PLN peaked at 4.2409 on the last day of September and since then has been on the decline, giving up nearly five figures throughout the last 200 hours. During this period the currency pair has penetrated the 200-hour SMA and formed a down-trend channel, thereby confirming its long-term bearish intentions.In the short run the single European currency also has a
On the whole EUR/GBP is currently recovering after bottoming out at 0.8333, but is doing so at a more gradual pace than at the very beginning of the rally—between the two parallel upward-sloping trend-lines. Even though these boundaries of the bullish pattern have not yet been confirmed on many occasion, we believe the market is still likely to respect them
For the past 460 hours trading range of AUD/USD has been narrowing, since the currency pair has been respecting the rising trend-line below the spot and the falling trend-line above the spot. Accordingly, the price has formed a symmetrical triangle on an hourly chart, with the resistance at 0.9473 and the formidable support area at 0.9414, which in turn is
After peaking at 1.1442 more than 100 bars ago the currency pair started to decline and eventually has breached the long-term moving average for 200 periods. Being that AUD/NZD's recent bearish behaviour has been contained by the two parallel trend-lines, there is a good chance the Australian Dollar will continue to depreciate relative to the kiwi.Moreover, the hourly and four-hour
Pair has been depreciating since the end of August. If not due to the 7000 pip rally on the 18th of September it is very likely we would have much longer pattern to work with. There was a 2 month rally before the mentioned depreciation of the pair, but once again Fibonacci retracements does not seem to have any impact
The pair has been in a clear uptrend since the 1st of August, but has been slowing down since the 2nd of October. The pairs trading range has narrowed from 340 pips then to 110 pips in the recent days. Despite this distinctive move prior to the pattern's beginning Fibonacci retracements does not seem to have any impact on the
Despite a recent rally in greenback's value, AUD/USD still remains in double top pattern's boundaries, even though the price almost reached pattern's resistance line. Based on aggregate technical indicators, the pair is likely to hover around same level for some time, however, later the continuation of the uptrend is expected, as indicators on a weekly chart are sending "buy" signals.
The highly overvalued Australian Dollar is a huge concern for the RBA. Nevertheless, the currency continues appreciating against major peers, including the Loonie. The AUD/CAD currency pair has been moving in a channel up since August 16. After touching 0.957 on September 30, the pair rallied to 0.985 and according to technical indicators on three different timeframes, we are likely
Having tumbled to a one-month low on September 15, the single currency regained strength and commenced a steep advance against the Norwegian Krone. During thee-week time since the beginning of the channel up pattern, the pair managed to soar from the one-month low of 7.7809 to more than a one-year high of 8.2054, the level close to which the pair
A channel down pattern formed by USD/ZAR on October 3 has lasted for 108 hours and may continue to add selling pressure on the pair. Currently, USD/ZAR is vacillating below its daily pivot point sitting at 9.9357, with 200-and 50-hour SMAs meandering above the pair. Market participants believe the pair is likely to retreat in the foreseeable future, placing orders
GBP/USD undertook ascension to almost a ten-month high of 1.6261 reached on October 1. However, this altitude appeared to be hard to consolidate at and the British Pound succumbed to the heavy selling pressure. On October 4, GBP/USD started to form a channel down that represented a relatively narrow corridor bounded by two steep downward-sloping lines. The pair is expected
A decline from a two-month high to a four-month low reached on October 3 alleviated selling pressure, giving the U.S. Dollar impetus for a gradual increase versus its Swiss counterpart. The pair neared but did not break the pattern's resistance for several times and now is trading not far away from a three-week high of 0.9132. The bullishness of the
Since June single currency has been appreciating versus the greenback and formed a strong uptrend movement. However, after touching an eight-month high of 1.364, the pair inched lower and currently is trading at 1.353. The nomination of Janet Yellen as the next Fed chairman will push the United States Dollar higher, however weaker-than-expected number of jobless claims as well as
A 146-bar long channel up was formed by GBP/CAD on September 3, and during the last 6 days there were three attempts to break pattern's support, however, bears were not strong enough and the pair bounced back from the lower trend line. Regarding the possible outlook, we can suggest in the nearest future the pair will try to penetrate 1.6534
It seems the pair is facing a strong downside pressure around 97.90, as bulls are struggling to break through this level. Moreover, around this level are located sell orders, and as long as traders will sell the pair around pattern's resistance, the level will not be breached. Even though since morning technical indicators on 1H and 4H turned into positive
In the period between October 3 and October 7, EUR/SEK soared from 8.6160 to 8.7588 but failed to consolidate at the highest level since September and retreated to the formidable resistance at 8.6900 that gave the currency pair impetus for appreciation. However, the second jump was less successful than the previous one as EUR/SEK started to retreat not reaching the