Having touched a five-month high of 0.8767 on August 1, the pair commenced to shape a channel down pattern, reaching a 10-month low of 0.8332 on October 1. It seems that a massive sell-off did not manage to alleviate the downside pressure as EUR/GBP has a potential to continue moving to the south. The proportion of orders placed to sell
EUR/USD has been vacillating between two gradually converging, upward-sloping lines since June 16. The magnitude of fluctuations was large, with pair tumbling to 1.2757 on July 9 and soaring to almost a nine-month high of 1.3589 on October 1. Currently, market players bet on appreciation of the single currency against its U.S. counterpart, buying the pair in 53.61% of
A 124-bar long rising wedge was formed by NZD/USD on September 23. Despite the fact the pair has average percentage of quality and magnitude, it has been relatively volatile during the last hours, and according to the technical indicators on a 4H chart, we would see a period of consolidation in the nearest future. However, 73% of all opened
NZD/CAD currency pair looks highly attractive for traders at the moment as it is approaching the apex of triangle pattern, formed on August 30. Recently bulls have tried to break the upper trend line, however, the price moved back in pattern's boundaries. Nevertheless, in a couple of days both trend lines will converge, and the fact trading volume is constantly
For the past 3 weeks pair has been recovering after a 500 pip sell off in the end of August-beginning of September. It might be that Fibonacci retracements of this move had effects on the pair prior to the formation of the pattern, but seems to have none in the length of the pattern. Pair has already reached the highest
Pair seems to have stabilized after a 1200 pip sell off in the end of August-beginning of September. As it is a major, one direction move, we could not utilize Fibonacci retracements in to our analysis. At the moment is being supported by the weekly PP and trading at the cluster of technical levels (20-bar and 20-day SMAs and daily
After hitting more than a one-year high of 3.3933 on July 10, USD/PLN reversed its trend and was gradually falling until it approached a seven-month low of 3.0630 on Sep 18. The pair bounced off this low to trade near 3.1207 (50-hour SMA, daily PP). The jump seems to have enfeebled the currency pair that is likely to retreated
EUR/CHF has been falling since it touched a one-month high of 1.2415 on Sep 11; however, a formation of the channel down pattern started only on Sep 17. Since then, the pair has been faltering between two steep downward-sloping lines, reaching a four-month low of 1.2215 on Sep 30, the level which acted as a prop and helped the pair
A 173-bar long triple bottom pattern is formed by GBP/CHF on a hourly chart. The pair is bounded between 1.465 and 1.454 since September 19 and during the last 174 bars the pair has been fluctuating in a 100 pips range. Earlier it was a double bottom pattern and on September 27 many traders were expecting a downside breakout, however,
After a long period of indecisiveness it seems XAU/USD cross will soon be rather volatile and a formation of a new trend can be expected. A triangle pattern formed on August 7 is moving to its apex as both trend lines will converge on October 7. Another sign of the upcoming breakout is decreasing volume and which is currently
Pair has been trading around it's 200-day SMA since the February, 2013. Before that we can see a 350 pip rally in the course of a half a year or so. It seem that Fibonacci retracements of this move still have noticeable impact on the pair—38.2% retracement is where the pair tested pattern's resistance for the first time and kept
USD/JPY was faltering between two gradually converging lines during more than three months. After the weekend, the currency couple opened outside the pattern, below the lower boundary, implying that a sharp depreciation is possible. Technical indicators also are hinting at a weakness in the nearest term. The confirmation of this will be a dive under the daily pivot point at
A stab to a three-month low was the starting point of the ascending triangle pattern that sent USD/SGD to a two-week high. At the moment, the pair is vacillating above the pattern's upper-limit close the two-week high. According to the SWFX data, traders sentiment is mixed about the future movement of the pair, being bearish and bullish in 50% of
Having touched a two-month low of 1.3103 on Sep 6, EUR/USD was appreciating until it reached a six-month high of 1.3567 on Sep 19 that triggered a gradual retreat to the lower boundary of the pattern, currently sitting close to the daily support zone at 1.3483. Although market players are bullish on the pair, the probability of a decline remains
Kiwi-loonie cross has been appreciating since the August. We could easily attribute as a recovery after a fall from 0.878, in the middle of April, to 0.795, in the middle of June. Despite such premise, Fibonacci retracements seems to have no impact on the pair anymore, even if it had any in the first place. At the moment it is
A 211-bar long channel up was formed by GBP/USD on a hourly chart on t the second day of August. While to some extend the pair may look overbought already, and some traders would expect a consolidation period, as 70% of all positions are short, aggregate technical indicators are univocally pointing at continuation of the uptrend. However, bulls are
Ascending/ descending are always are posing a good opportunity to make big profits in a short period of time, while this exact trade pattern is exactly one of them. At the moment of writing the pair was rapidly approaching the upper trend line, meaning in case of a breakout higher prices will come. Even though, 62% of opened positions are
Pair has been in a distinctive uptrend since the beginning August. At the moment it is trading at the highest levels since February, 2010. This adds some psychological pressure on the pair. However, as we can see from the short term technicals it still has propensity to inch up higher. We can see this technical support easing up only later
While in the bigger picture USD/CAD remains within the boundaries of the ascending triangle, more locally it is building a channel up pattern, with the resistance at 1.0356 and the support at 1.0309. Below there is also the 200-hour moving average, a fact that hardens the case for a surge to be extended in the future, even though a majority
EUR/TRY has ben recovering since Sep 19, but has been doing that in a more orderly way throughout the recent 80 hours, right after gaining a foothold above the 200-period SMA. Accordingly, the outlook on this currency pair is rather bullish, also considering the technical indicators on the hourly and four-hour charts.However, some bearish signals are starting to appear as
While on a four-hour chart AUD/CAD is in the up-trend, it is worth mentioning that the currency pair is undergoing a correction after hitting the rising up-trend, a tendency that has led to formation of the channel down on an hourly chart. Consequently, there is a good chance the Australian Dollar will continue to lose value for some time, probably
The price chart of GBP/AUD developed within a clear channel up pattern during the last 140 hours. Even the 200-hour SMA proved to be unable to nullify the bullish momentum and allowed the rally to persist.Right now the pair is testing the upper trend-line, meaning that the Sterling might soon start declining. The dip, however, should not extend beyond the
Triangle which looks very similarly to a descending triangle formed by CAD/HKD on September 19 is moving to its apex. The main reason behind it is that on Friday both trend lines will converge, meaning the breakout is inevitable. Even though technical indicators are not univocal and pointing into different directions, we might suggest the pair will perform a downside
It is known that rectangles are formed in times of consolidation and after a double bottom pattern. In our case the pair is bounded between both trend lines and is fluctuating in a 100 pips range. As soon as the pair penetrates any of the trend lines, high volatility is expected. However, according to technical indicators GBP/CHF will consolidate for