A 400-bar long double top was formed by CAD/JPY on late August. According to the tools of technical analysis we might suggest the following scenario: first, a move in pattern's support direction, as the majority of technical indicators on short and medium terms are pointing at depreciation. However, in a longer period we could expect the continuation of the uptrend,
During the last 69 bars the pair has been moving parallel to pattern's support, and even though there have been few attempts to break the key level. Moreover, the pair is supported by a 200-bar SMA at 1.6290, so even in case of a breakout, it would be extremely difficult to push the pair lower. Thus, the pair is likely
Pair has been appreciating for quite some time and emergence of a Channel Up pattern was expected. At the moment the pair is trading slightly below the mid point between the pattern's support and resistance. It seems that minor sell off in the past few days was caused by the 61.8% retracement of the 23rd of August to 6th of
A long but narrow channel down was formed by EUR/NZD on September 9 and it seems the pair will continue channelling down for some time. At the moment of writing the pair was approaching the upper trend line, however, according to the majority of aggregate technical indicators the price will push lower in the nearest future. Though, Stochastic on a
After peaking at 1.503 on August 28, a level that was the highest since May 2009, the pair has began its depreciation and formed a double bottom pattern. Usually, this pattern is characterised by a strong bottom line, which is in our case located around 1.42. The fact that each new low was lower than the previous one is bolstering
Pair seems to be having some problems as it approaches August and September highs. It tested the pattern's boundaries on 18th of September, reaching September high at the same time, which caused the pair to loose 170 pips in the course of 12 ours. Pair managed to recover just slightly more than half of this loss only in the course
Pair trading in the highest levels since the august of 2009. Despite this giving significant psychological pressure on the pair it is maintaining bullishness for the time being. Short term technicals on aggregate point at further appreciation of the pair suggesting that the pair still has the propensity to reach new high. Medium and long term technicals, mostly due to
The pair got impetus after it broke through its 200-hour SMA on September 13 and started to form the channel up pattern. Since then, the pair managed to attain a three-month high of 0.9741; however, a rally to this level exhausted AUD/CAD that failed to get a foothold at this level and declined to 0.9712 (four-hour PP). The overall outlook
The short-term SMA dived under the 200-hour SMA on September 10, inciting a sharp depreciation of the pair that started to shape a channel down pattern on September 13. The currency couple attempted to broke the upper boundary of the pattern on September 17 but it did not manage to overcome heavy selling pressure and was forced to drop to
EUR/SGD has been vacillating in the corridor of two upward-sloping lines since September 5. At the moment, the currency pair seems to have consolidated above its four-hour pivot point at 1.6870 and may prolong its rally to the resistance region at 1.6889/96 (four-hour R1; daily R1) that may mollify the buying pressure that has been pushing the pair higher since
Having touched a two-month low of 1.5579 on July 31, the pair started an accelerating increase, climbing to the highest level since February 2010 of 1.6508 on August 23. After hitting this high, GBP/CAD retreated slightly to approach the lower-limit of the pattern but the weakness appeared short-lived, as a bounce from lower pattern's boundary prompted a rally that pushed
Another channel was formed by GBP/CHF in the beginning of August and it seems the pattern will last for at least the next couple of weeks. During the last couple days the pair was hovering around pattern's resistance, making several attempts to break out from pattern's boundaries. However, after refraining from tapering, the pair moved to 1.46 and in
After receiving strong impetus from FOMC meeting the USD/JPY dropped directly to pattern's support, however, today the pair recovered almost 1% and at the moment of writing the price stood at the level of upper trend line. However, neither market sentiment nor aggregate technical indicators do not give a clear "buy" or "sell" signals. Nevertheless, the greenback is likely
air has been trading in relatively narrow , 330 pip, range since the end of August till the middle of September. Lately it has been trying to reach new high which would be the highest level since the February 2010 (peak jut before the pattern's beginning if not to take in to account recent peak). Pair appreciated for almost two
Pattern started after a n approximately 3000 pip rally from April to august. Pair is approaching a 23.6% retracement of this move but is unclear if it will have any impact due to the period of increased volatility and obscure up and down movements from the middle of July. Peak just prior to the beginning of the pattern marks the
A decline has been observable since August 23 when it reached a two-week high of 0.8653; however, a formation of the channel down pattern started only on September 6 when the pair hit its seven-month low of 0.8393, the level close to which the pair is trading now. The overall outlook remains gloomy, with 63.24% of traders betting on further
During more than a year the Swiss Franc was appreciating against its Japanese peer to climb to more than a one-year high of 107.26. After hitting this high for the second time on July 24, the pair slightly retreated and commenced to form a rising wedge pattern that pushed a one-year high back to the fore. The currency couple surpassed
The pair experienced a depreciation after touching a six-month high of 0.9979 on March 28. The downward trend lasted until the currency couple plunged to a one-year low of 0.8179 on August 28, the move which was within the ascending triangle pattern started on August 15. AUD/CHF has recently broken through the lower-boundary of the pattern and is trading slightly
A stab to a two-month low of 128.01 was a starting point for the channel up pattern shaped by EUR/JPY. Currently the pair is regaining strength after a retreat from almost a four-month high of 133.35 hit on September 11. Market players believe the currency pair has a bullish potential, with 53.68% of all orders being placed to buy EUR/JPY.
Pair has been appreciating since the beginning of August. Prior to that pair depreciated by 580 pips in the course of a month. It has recovered most of it by now. From the recent development we can see that 200-bar SMA seems to providing support for the pair and pair should touch it once again when approaching pattern's support. Probability
Pair has been gradually narrowing its trading range most of the September from 130 to 30 pips. It is worth mentioning that the pair is trading in the last decimal of the pattern and just slightly below it's resistance which could lead to a major move in the near future. It has been trading above the 0.865 for the last
Another channel up was formed by EUR/JPY in the middle of August and it seems the pair will continue channelling up in the foreseeable future. Currently, the pair is trading in the middle of the pattern, and the fact market sentiment is not clearly marked, is reinforcing a view the pair will continue moving in pattern's boundaries. Moreover, it seem
EUR/USD is fluctuating around 1.335 during the last two trading days as markets are focused on the key FOMC meeting, which can determine pair's development for the next weeks. However, based on the technical analysis the short term outlook is bearish, while in a longer term, the pair is likely to appreciate. The main reasons behind such a predictions are
A descending triangle pattern often leads to the bearish breakout. However, EUR/TRY does not show willingness to validate this opinion or meet traders' expectations, who sell the pair in 87.50% of cases. Now EUR/TRY is faltering not far away from the triangle's apex close to the upper-boundary of the pattern and slightly below four-hour resistance at 2.6798. If the