Due to a recent rebound against the lower trend line of a long term ascending channel pattern the silver price has surged, as it has formed an ascending channel pattern. The commodity price is heading to the resistance, which is put up by the 61.80% Fibonacci retracement level of the 2016 high and 2017 low levels. The retracement level is
The recent developments on the chart for the yellow metal have pressured for a review of the situation. First of all it has to be noted that a hypothetical ascending channel pattern has been drawn by using as a reference point the recent rebound. The junior channel is a representation of the rebound against the lower trend line of a
The American Dollar is trading against the Mexican Peso in the short-term descending channel. The pattern started to form after the currency exchange rate leaved the double top formation in the downward direction. At the present moment, the pair has reached the bottom edge of the channel near 18.3698. It is difficult to say, whether the pattern will sustain, as
The Canadian Dollar is trading against the Hong Kong Dollar in the short term descending channel. The pattern started to form right after the currency exchange rate broke through the bottom trend line of the preceding ascending channel. At the present moment, the pair is trying to reach the upper edge of the formation, which is supported by the
The common European currency continues to trade against the Australian Dollar in the medium term ascending channel. For the moment, the currency exchange rate is trading slightly above the 61.8% Fibonacci retracement level at 1.5104, which serves as a strong support level that is backed up by the weekly PP at 1.5108. If the pair fails to pass
The New Zealand Dollar has formed a rising wedge pattern against the Canadian Dollar as a result of a rebound. The rebound occurred when the pair encountered the support of a large scale dominant ascending channel pattern. In addition, the pair has shown historically that it is affected by the significance Fibonacci retracement levels of the 2016 high and 2016
As a result of rebounding against a long term support line the common European currency has formed an ascending channel pattern against the Hong Kong Dollar, which is moving through one Fibonacci retracement level after another. Most recently the currency exchange rate has bounced off the resistance of the 23.60% Fibonacci retracement level at the 8.7740 level. The relevant Fibonacci
The common European currency is trading against the Norwegian Krone in the short term ascending channel. The pattern started to form after the currency exchange rate bounced off from the 61.8% Fibonacci retracement level at 9.3751. The Fibonacci retracement levels for this pair are measured by connecting the 2016 high and 2017 low levels. Currently, the pair is trading slightly
The hourly chart reveals that fluctuations of the American Dollar against the Turkish Lira during this trading week formed a descending triangle. More specifically, the pattern began to develop after a sharp depreciation of the Greenback on May 30, which most probably is associated with release of the Consumer Confidence Index. For the moment, the pair is aiming to break
Due to rebounding against a Fibonacci retracement level the common European currency has surged against the Singapore Dollar and formed an ascending channel pattern. The currency pair is set to surge up to the 50.00% Fibonacci retracement level, which is located at the 1.5682 level. In accordance with the pattern, it is most likely going to occur by the end
During the recent review of the EUR/USD currency exchange rate some newly formed patterns were spotted. First of all it has to be noted that in the short and medium term the currency pair is in two ascending channel patterns. However, both of the patterns are not fully confirmed, as one of their trend lines has been touched only once.
The Australian Dollar is trading against the Swiss Franc in a short term descending channel pattern, which is about to reach the lower trend line of the most dominant long term channel down pattern. However, on the way down there are various medium term channel support lines, which can be observed. It is highly likely that they will hinder the
The Greenback is depreciating against the Danish Krona simultaneously in three descending channel patterns. However, most recently the currency exchange rate hit the combined support of all of the channels. As a result of that rebound it can be expected that the most junior patterns will become obsolete during the next quarter. Meanwhile, concentrating on a shorter term, it can
The Euro is trading against the Swedish Krona simultaneously in two ascending channel patterns. However, the situation is about to change. Due to the fact that the currency pair has hit and bounced off the upper trend line of the dominant channel, it can be assumed that the currency rate is in the process of forming a new medium term
The common European currency is losing value against the New Zealand Dollar in a medium scale rather narrow descending channel. However, the situation is about to change soon, as the pair is approaching the lower trend line of a larger pattern's lower trend line. It is most likely that the currency pair will support in the line and begin a
The common European currency is gaining value in the short term ascending channel against the Australian Dollar. The four hour timeframe reveals that the pair failed to break the support put up by the 61.8% Fibonacci retracement level and weekly S1 at 1.4942 and 1.4937. The retracement levels for this pair are measured by connecting the 2016 high and 2015