The bullish market might have come to an end for USD/DKK where a double top at 6.9488 appears to be running the trend south. We will look for signals at 6.8897 – the neckline – and a break below will confirm the reversal, while a bounce could lead into a ranging market potentially inside of a rectangle. The pair is
The US Dollar trades simultaneously in two ascending channels against the Chinese Yuan, as the Greenback marks new high levels against the Chinese currency. The smaller channel formed itself before the US presidential election, which did not break any patterns on this exchange rate. The fluctuations in the USD/CNH, on the contrary, revealed the location of the minor ascending channel's
At first glance the chart for the HKD/JPY currency exchange rate might seem simple. However, there are underwater rocks, which can be seen only on the massive scale charts, by looking at a five year long past. The pair is in the process of forming the second shoulder of a head and shoulders pattern, which has been active for a
A channel-wedge combination ran the trend for EUR/NZD, leading the pair to re-test May 2015 lows. We lean in favour of the wedge above the channel, meaning we exclude the Election jump and confirm diminishing volatility. We look for the rate to attempt the bottom trend-line of the wedge around 1.4858. Hitches at 1.5056, 1.5008 and 1.4937/4913 will flatten the
Demand for the Japanese Yen soothed in the aftermath of Donald Trump's victory, causing USD/JPY to contain its movements neatly inside of a channel up pattern. Currently mid-pattern, the pair is on a flattish motion south to test the bottom trend-line at 107.91/84. The rate has lost volatility, causing the market to range with movements squeezed between the monthly R2
Prior to the US presidential election and the victory of Donald Trump Dukascopy team covered the ascending channel, in accordance with which the Kiwi traded against the Greenback. However, that pattern has been broken in the aftermath of the election, as the US Dollar strengthened. The medium scale pattern was broken by a descending channel, which most recently reached the
In the aftermath of the US presidential election the US Dollar surged against most currencies. During the surge, the USD/PLN currency exchange rate formed an ascending channel. However, the small scale channel has a very thigh range and is not likely to remain in effect for long, as fundamentals have been affecting the strength of the US Dollar, which subsequently
EUR/PLN launched several attacks at levels above its trading range, but proved an uptrend unsustainable as it sank to 4.2615, where a double bottom was formed, suggesting that a bearish market could be sustainable at last. The pair easily broke the neckline at 4.3756, setting now eyes on 4.4737, the June high, and shows more risk at 4.5803, where
NZD/USD gained bullish potential inside of a falling wedge pattern, as highs became higher but volatility was lost on the downside. Currently moving towards 0.7115, the upper trend-line of the wedge, the pair will encounter supply at 0.7099, where the 20-period SMA lies. With SMAs weighing from above, the pair will face a tough journey that will eventually lead outside
A rising wedge emerged to guide EUR/JPY movements, showing a single downside breakout on the day the POTUS Donald Trump was elected. While currently supposed to move south, the pair has been distracted from the wave with a slightly bullish consolidation. We still look for the pair to reach the bottom trend-line around 115.40, and the pattern could be mature
As previously analyzed and forecasted silver has broken out of a triangle pattern, which it formed while simultaneously being in and large scale descending channel and on a medium term in an ascending channel. The break out has occurred and the metal continues its path northward in the ascending channel to the large scale pattern's upper trend line. However, most
The Pound has been surging against the Australian Dollar in an ascending channel, which formed in the aftermath of the pair's rebound from the larger scale pattern's lower trend line. On a larger scale, namely the weekly chart, a descending channel, which begins on April 2015 can be seen. Most recently the currency exchange rate reached the ascending channel's resistance
USD/CAD hinted a new trend-line from below – a parallel to the decent upside boundary, forming a channel with risk weighing heavily on the upside. The pair stuck to the trend-line since September, suggesting that a breakout might be near. Immediate supply lies at 1.3520/24 with potential hitches at 1.3543 and 1.3561 before the upper trend-line of the channel it
GBP/JPY is on the verge of breaking the two-day rising wedge to the downside, setting eyes on 133.44 or 133.16 to bounce off and move on to a correction of the broke trend-line. More risk lies at 132.94 and 132.82, clustering into a tough demand area which will battle the weak Pound. The area is strengthened by an Ichimoku cloud
The Sterling has been trading in a broadening ascending wedge against the Canadian Dollar since the middle of October. Previously, the currency exchange rate traded in a rectangle, which was enforced by two Fibonacci retracement levels, namely the 38.20 % at 1.7435 and 23.00% at 1.0598. The Fibonacci retracements are measured by connecting the 2015 high and 2013 low
The Greenback reversed its movement against the Russian Ruble prior to the US presidential election and formed a descending channel pattern. In the meantime, the currency exchange rate is in a much larger, long term channel down pattern since April. In addition, the currency pair has been affected by the Fibonacci retracement levels, which connect the 2015 low and 2016
Following a few tests of the bottom trend-line, USD/SEK continued its climb inside of a channel up pattern, currently floating in the middle, but eyeing the upper trend-line for future tests. The market calmed soon after the movements gained amplitude upon the announcement of a Trump victory, but experts stand at a weaker Swedish Krona for an extended period of
GBP/USD took up some volatility on the Election Day, but managed to stay underneath 1.2550, forming a double top. Currently consolidating, the rate will give us signals around 1.2364, where the neckline lies. A downtrend is consistent with markets considering Brexit as higher risk than a Trump presidency, meaning that the Pound is likely to extend its streak of losses.
The Aussie recently broke out of an ascending channel pattern against the Singapore Dollar, and the currency exchange rate continues to move in the borders of the new channel up pattern. However, both of the patterns were active simultaneously since the middle of September. It is rather a situation, where a pattern, which forms in the borders of a larger
The AUD/CAD currency exchange rate is one of the currency pairs, which was not heavily influenced by the US presidential election. For the past month the rate has been fluctuating in the borders of an ascending channel pattern, which represents the pairs surge after rebounding against a larger channel's support line. However, most recently the rate's surge was stopped by
While an ascending channel has led the movements of USD/SGD for about two and a half months, a double top at 1.3959 could serve as a trend-changer consistent with a gloomy Dollar outlook caused by a Republican victory. If the pair continues to consolidate even respecting the current ceiling, it could still stay inside of the channel lines and post
Showing signs of a channel at some point, EUR/CHF eventually formed a falling wedge, suggesting that the pair will surge in the nearest future. This is a scenario consistent with rising demand of safe haven currencies, as a Trump victory in the US election brings pessimism into markets. A break above the upper trend-line of the wedge at 1.0818 will
The Kiwi, surprisingly, is the currency, which ignores the US presidential election. For example, the NZD/USD currency exchange rate continued to trade in the previously set medium term pattern, which it formed as a result of rebound of the long term ascending channel pattern's support line in the middle of October. Most recently, the currency pair reached the medium term
As it is the US Election Day, and Trump and Hillary go head to toe in a battle for the presidency of the United States, that is all which is going to affect the markets today and in the next few trading sessions. Due to that a few interesting cases of trends are being looked at during today. First is