A jump to a two-month high on Sep 11 provoked a sharp decline of USD/JPY; however, the channel down pattern started only on Sep 26. Recently, the currency couple has bounced off a one-month low and is currently trading at the four-hour pivot point at 97.15. Despite bearishness of the pattern, 64.96% of the market players bet on the appreciation
On Sep 13, the pair neared but did not quite reach its 50-hour SMA, the move that became a starting point of the channel up pattern, within which the pair, firstly, tumbled to almost a three-month low but then recovered, peaking at almost one-month high on Sep 30. The outlook on the pair seems uncertain. On the one hand, 50-hour
Another channel down was formed by USD/PLN and similarly as in XAG/USD pair, the greenback is losing ground due to political instability in United States. The tendency is likely to persist, as indicators on 4H and daily charts are sending "sell" signal, meaning the pair will move to the south in short and medium term perspectives. Meanwhile, 72% of
Silver is rarely discussed in the trade pattern ideas, however, XAG/USD has been moving in a strong downtrend since August 28, when the pair peaked at 25.141. At the moment of writing the pair was fluctuating around 21.810 and according to recent performance, bulls struggle to push the pair above 22.140. Even though aggregate technical indicators are suggesting movement in
Pair has demonstrated mildly bullish sentiment since the 19th of August. Prior to that it depreciated by almost 100 pips in the course of one hour. Overall loses then, up to the recovery accumulated to 140 pips. Pair has recovered all of them since them. At the moment it is developing inside the Rising Wedge pattern—it is narrowing it's trading
Pair is slowly trailing lower after a 600 pip rally form 28th of August to 13th of September. Despite this distinctive move we could not employ Fibonacci retracements to aid in our analysis. At the moment it is approaching pattern's support and as suggested by the short term technicals it has the propensity to dip below it. Medium and long
Price chart of EUR/SGD exhibits an inimitable stability. The up-trend that was commenced at a low of 1.6730 almost 500 trading hours ago still persists. Moreover, judging by the daily technical indicators, the currency pair is likely to preserve the bullish momentum and reach even higher levels.However, the price will have to undergo a bearish correction before it resumes going
Being that throughout the past 200 bars AUD/NZD has been posting higher troughs and slightly higher peaks, there is a possibility the currency pair is forming a rising wedge pattern, even though generally we would it expect to emerge at the end of the up-trend. This is why it may be the case that AUD/NZD's next peak will not exceed
On Sep 19 CHF/JPY peaked at 109.41 and since then has been on the decline—slowly but surely eroding the sharp rally made after a test of the 200-hour SMA. This bearish activity has been taking place within two falling trend-lines that the currency pair has been consistently respecting.Accordingly, in the nearest future we do not expect the Swiss Franc to
If we draw two converging lines—through the latest peaks and valleys, then we would notice that EUR/SEK has been recently forming a symmetrical triangle. Thereby the down-trend creates a strong resistance area at 8.6489, as it is also reinforced by the long-term moving average. From below the exchange rate is supported by the up-trend line at 8.6158, which in turn
On the back of strong fundamental data from Europe and amid government shutdown in the United States, EUR/USD has approached the highest level since February. At the moment of writing the pair was changing hands at 1.3618, just 5 pips below the pattern's resistance line. In case the level will be breached, the next stop for bulls will be 1.3655–
One of the most traded currency pair has formed a double top pattern, meaning bulls are needed a pause before pushing the pair higher. The Pound has been moving in a strong uptrend since July, and it seems for some time the pair will consolidate around current level. Moreover, aggregate indicators on 4H chart are sending "sell" signals, suggesting the
Pair has been gradually narrowing it's trading range after it hit September high on the 30th of September. Prior to that pair had a 4800 pip appreciation in 7 days (23rd to 30th of September). 38.2% retracement of that move coincided with the first test of the pattern's support, but Fibonacci retracements seems to have no impact on the pair
Pair is recovering after a 800 pip drop from 1.50 on the 28th of August to 1.42 on the 10th of September. Despite this sharp mood it seems that Fibonacci retracements cannot be utilized in the analyses. At least not at this point anymore. We can see that the pair's quality rating is just slightly above the average. However, due
USD/PLN started a downside trend on September 29 when it hit a two-day high of 3.1399. Since then, the pair has been depreciating, attaining a two-week low of 3.0941 on October 3. The U.S. Dollar is likely to extend its losses against Polish Zloty given the bearishness of the pattern. However, market players do not support gloomy outlook, betting on
A 476-bar long pattern was formed by EUR/NZD that managed to consolidate within the ascending triangle pattern after experiencing a sharp decline from the highest level since February of 1.7283 to a two-month low of 1.6074 between August 27 and September 18. The pair once attempted to break through the pattern's resistance at 1.6430 but failed to get a foothold
After hitting more than a one-year high of 133.91, EUR/JPY commenced to decline; however, the channel down pattern started being formed only on September 26 when the 50-hour SMA fell below 200-hour SMA. The currency pair was erratic, fluctuating in a 250-pip wide range. Currently, the Euro is struggling at its 200-hour SMA at 132.93 and may overcome this
A triangle pattern formed by USD/JPY started on June 13 when the U.S. Dollar tumbled to a two-month low against its Japanese counterpart. On September 27, the pair broke through the lower boundary of the triangle thus determining its further movement; a bearish breakout from the triangle pattern usually results in an acute decline of the pair. Technical indicators also
A rather short, only 54 bar long, channel down was formed by EUR/CHF, however, it may a beginning of a new strong downtrend, as after a period of consolidation between 1.243 and 1.226, the pair has finally moved further. Another sign of the movement to the south, is signals, sent by aggregate technical indicators, which are sending either neutral or
NZD/USD is expected to be highly volatile tomorrow, meaning that descending triangle formed on August 30 is moving to its apex. The trading range is just 20 pips, and the closest technical levels from both sides are already pattern's resistance and support, hence in case of any breakout, the pair will be followed by higher or lower prices. However, technical
A 167-bar long rising wedge was formed by EUR/CAD, however, it seems the pattern will be completed soon, as trend lines will converge soon and trading range is narrowing rapidly. Furthermore, trading volumes are decreasing– another signs of the upcoming breakout. Based on signals sent by aggregate technical indicators on three different timeframes, we might conclude the outlook for the
Single currency is losing ground against the British Pound since September 22 when a channel down was formed. The pound has been moving in a strong uptrend during the last several weeks, and even though many analysts see a short retracement in the nearest future, aggregate technical indicators on hourly and 4H charts are suggesting EUR/GBP will continue moving to
GBP/USD has experienced a sharp rally since it dropped to 1.5107 on August 2. Now the pair is trying to consolidate close to 1.6264, a nine-month high; however, the region of 1.6176/212 (four-hour PP, four-hour R1, R2; daily PP) deters the upside movement. The British Pound may succeed in overcoming this region that will send the currency couple to a
A dive to a three-month low on Sep 19 gave the pair impulse for the rally to a three-week high of 6.0488; the currency couple retreated from this level but managed to regain strength to touch 6.0289. The second rally enfeebled USD/NOK and it dropped again thus forming a double-top pattern. Double-top pattern often results in the bearish breakout and