A 174-bar long channel up was formed by greenback– Polish Zloty cross, when the pair dropped from 3.175, level which is just 60 pips below the current market price. The pair is not trading around any of the trend line, however, a 75% magnitude suggests traders can expect some significant returns from the upcoming movements. According to aggregate technical indicators,
The reason what makes this trade pattern attractive for trade is very obvious– it is a recent upside breakout, which is usually followed by higher prices and increased trading volumes. Even taking into account low volume during the summer, further appreciation of the pair is very likely, as aggregate technical indicators on 4H and weekly charts are sending "buy" signals.
With the formation of the Double Bottom pattern kiwi-greenback is posing for further appreciation of the pair. This happens due to the fact that the pairs bears failed to reach new (relative) low and bulls push the pair back to the previous levels. In this case that would be addition 450 pips. At the moment the pair is trading just
Price action throughout the past 290 hours suggests that GBP/NZD is currently trading within a descending triangle, since from above the fluctuations were contained by the falling resistance line from above and underpinned by the horizontal support line from below.Right now the boundaries of the pattern are to be found at 1.9312 and 1.9214, but they are not expected to
Just Friday the upper trend-line on an hourly chart of AUD/SGD was intact. However, a few hours ago the rising wedge was breached to the upside, a promising for the bulls event, despite the formation itself implying a bearish scenario.Neither the bearish line at 1.1701 nor the daily R1 were able to halt the currency pair. Now they have to
Somewhat similar to what is happening in NZD/CAD, this currency pair is moving north after overcoming a long-term moving average (200 periods). However, the technical indicators here are more in favour of the rally by giving ‘buy' signals on hourly and four-hour time-frames, even though on the daily chart they are still mixed.At the moment the price is headed towards
NZD/CAD started the pattern 80 bars ago, when the currency pair confirmed and then rebounded from the 200-hour SMA. Since then 200 pips have already been covered, but it appears there is still potential for the New Zealand Dollar to add to the existing gains.The supports that are preserving the bullish outlook are at 0.8337 and 0.8290, they should stay
Pair is posing for a rally as this is the main expectation from the Double Bottom pattern; pair fails to reach new low (twice) and returns to the previous levels. At this moment this would constitute for a move of an approximately 3500 pips. Although pairs appreciation after the second bottom is not as steep as one would like we
Aussie-greenback has been in a noticeable decline for the past four months and the pattern at hand is definitely not unexpected. Pattern's quality is just slightly above the average due to the few volatile periods in the beginning of the pattern. At the same time the magnitude (of movements) rating is also just slightly above the average due to the
After a sharp fall 0.8586 on April 30, NZD/USD has formed a double bottom pattern. However, the downtrend is likely to be substituted by an uptrend, as the pair is testing pattern's resistance line for the second time in one month period. In addition to that indicators on 4H and daily charts are sending "buy" signals, suggesting the upper trend
GBP/AUD currency couple has formed a rising wedge on June 27 and at the moment of writing the pair has been approaching the support line. However, we would not expect a breakout, and as always it would be interpreted as a "buy" signals. Nonetheless, market sentiment is strongly bearish (75%), while technical indicators on 1H charts are pointing at depreciation
A fairly sharp rally AUD/USD started at 0.8848 was not sustained for long. The upward impetus was already exhausted when the currency pair approached 0.9221 this Monday. Since then the Australian Dollar has been gradually depreciating relative to the U.S. Dollar, but at the same time has been marking the borders of the corridor it has been trading within. Hence,
Similarly to the course of events in NZD/USD, this currency pair started fluctuating within two bullish trend-lines after successfully overcoming the 200-hour SMA. However, in this case they do not seem to be parallel, the lower line is slightly more positively sloped than the upper one, meaning that the pattern formed is not a channel up, but rather a rising
The rising wedge pattern, currently being formed on an hourly chart of USD/ZAR, may not be the perfect one, since it is not at the end of the major upward move, but there are two distinct converging trend-lines the currency pair tends to respect. If the price rises from the present levels, it will encounter the upper line at 10.0284,
A little more than 150 hours ago the pace of New Zealand Dollar's appreciation vis-à-vis its U.S. counterpart decelerated, being that the 200-hour SMA, even though in the end it was breached, weakened the bullish momentum the currency pair received after touching 0.7737. A notable role in this slowdown played a rising trend-line, which is considered to be an upper
Though USD/SGD is not a very popular currency pair among traders, it can be highly attractive, as the price is approaching pattern's resistance line. Earlier, there were attempts to penetrate this level, however, they were unsuccessful. Taking into account bearish market sentiment, we might suggest that this time this level will not breached as well, however, the majority of aggregate
A rare descending triangle pattern was formed on 4H chart in the beginning of July, and it seems that the pattern is moving closer to its apex, as both trend lines will converge on August 29. Even though technical indicators are sending mixed signals, not less than in two weeks we will see a breakout, which will mean significant moves
During the whole July USD/CAD was declining, losing three and a half figures. Then, for a relatively short period of time the pair was undergoing a bullish correction, but has recently resumed trending downwards in the channel down pattern.While the technical indicators are mixed and do not give a clear signal regarding the future behaviour of the currency pair, a
More than 250 hours ago EUR/TRY failed to sustain the rally, topping out at 2.5884. Since then the currency pair has been posting lower peaks and lower valleys, creating the bearish channel.It is noteworthy that the 200-hour SMA had a major influence on the price throughout the formation of the pattern and is expected to remain topical in the future.
During the past 170 hours USD/HKD has been trading beneath the falling trend-line, respecting it on many occasions. This may signify that the currency pair is fluctuating within a bearish channel; however, there is no yet a reliable lower boundary of the formation. There is a potential trend-line, but there are too few confirmations of it at the moment.In any
Apparently, the 200-hour SMA, a potentially tough line to breach, did not turn out to be a nuisance when XAU/USD was forming a rising wedge. A recovery from a low of 1,273.23 did not encounter any particular difficulties while crossing the long-term moving average, but instead was consistently respecting two converging trend-lines, an intersection point of which is not that
A Pound-greenback cross has been moving in an uptrend for the last month, after the pair bottomed at 1.4814. Several trading sessions ago, after touching the resistance line, the pair has began to depreciate and has lost more than 100 pips already. Pattern's magnitude is above the average, meaning traders can expect some significant moves, though high returns. According to
A 125-bar long channel down pattern was formed on July 12, when the pair surged from the level around 0.930, currently trading at 0.943. It seems that the pair is experiencing some difficulties around 0.948, represented by daily resistance and 200 bar SMA, therefore the pair is likely to bounce back from this level. Even though 62% of all opened
Since April AUD/CHF has been in a major down-trend. However, about 180 hours ago the bearish momentum waned, when the pair touched upon 0.8231. The bullish outlook was subsequently confirmed when the 200-hour simple moving average fell prey to the surge, although technical indicators on the three relevant time-frames are mixed, suggesting absence of any distinct action on the chart.In