A break below the bottom trend-line of the three-month symmetrical triangle provided significant supply pressures to build up bearish momentum that EUR/JPY is about to release when the consolidation of the broken trend-line at 114.23 is executed. Levels 113.66, 113.76 and 114.03/08 are bound to put up a battle on the pair's way up, potentially flattening and prolonging the recovery
The break out of the descending channel last week came as a confirmation of a senior monthly channel up at 1.4636, which lacked evidence before. Decent bullish momentum carries EUR/CAD towards the upper trend-line of the channel, setting 1.4902/08 as the near-term resistance target. Grabbing onto demand pressures that stem from the golden cross formation below, a break above this
The bearish channel in the four-hour chart and the technical indicators imply extension of Sterling's depreciation from 139 yen started at the beginning of September. This is also suggested by the descending triangle emerging in the higher timeframes. However, support at 130 yen still remains intact, meaning we may well see a rally in the near term. If the red
GBP/AUD keeps trading within the channel we identified last Thursday after the pair pierced through a notable level of 1.7270. The latest bearish wave inside the pattern did not reach the lower trendline, however, signalling a potential reversal. Nevertheless, the longer-term technical indicators are mostly pointing downwards, suggesting the resistance at 1.70 is likely to stand its ground. Our current
The descending triangle formed over the last three months has led GBP/NZD to lose volatility to an extent that might imply that the pattern is mature enough to break over late September or early October. The bearish stance taken by the pair threatens to close below the weekly Pivot Point which could, in turn, imply that there will be no
The falling wedge formed over the last three months might have put an end to any doubts of the yearly channel, which became topical when the rate failed to complete its way towards the upper trend-line at 0.7767. We look for the pair to make its way through demand areas at 0.7366, 0.7340 and 0.7297, bounce from the wedge boundary
Outlook on EUR/AUD is strongly bearish. The currency pair has just broken through a support trendline that has been keeping bullish momentum intact since mid-2012. Moreover, the downside risks are further increased by a descending triangle that has been forming for the last 12 months, although the lower bound of the pattern at 1.4550 is still intact. Demand there is
Since the last time we spoke of EUR/GBP, the currency pair confirmed the lower bound of the emerging channel. This, alongside favourable technical indicators, especially in the four-hour time-frame where six out of eight studies are giving ‘buy' signals, reinforce a bullish outlook on the European currency. However, we should be wary of resistances the price is approaching, as they
AUD/NZD carries strong bullish momentum since September 20, when the currency pair confirmed a breach of the Aug 8 - Sep 16 trendline. The 200-hour SMA has recently fallen victim to the pair's bullishness as well, implying that the rally may well extend up to 1.0750 (July and August highs), as there seem to be no significant resistances nearby. At
The Aussie is surging against the Singapore Dollar simultaneously in two channel up patterns. The relation between the two channels is that the smaller channel is the larger scale pattern's rebound against its lower trend line in the middle of September. At the moment, the currency exchange rate has already passed the only notable resistance level at 1.0352, which could
The Canadian Dollar is in a descending channel pattern against the Japanese Yen, as the currency exchange rate is trading near the channel's resistance line. The most recent rates encounter with the channel's upper trend line is the fourth confirmation of the pattern's trend lines. On a larger scale the currency pair is trading in a descending triangle pattern, and
After a sharp sell-off to break the annual downtrend upon the Brexit vote, GBP/JPY consolidated inside of a descending triangle. The pair is currently targeting the 129.39 support level, one that has not been relevant since November 2012 and that would induce a slip at least to 127.97, but - based on the significance of the established demand zone –
A symmetrical triangle contained the ranging CAD/CHF market with somewhat uncertain future movements caused by low volatility and pressures from both sides. The 55-hour and 200-hour SMAs have developed a golden cross formation, giving out strong bullish signals which would push the pair towards 0.7437 and further to 0.7444, the upper trend-line of the triangle. Inability to get through the
The common European currency is simultaneously in three channel patterns against the Canadian Dollar, as one of the channels is set to be broken soon. From a long term perspective the Euro is appreciating against the Loonie, as there is an ascending channel pattern. Secondly on a mediums scale there is a channel down pattern, which represents the bounce off
The Swiss Franc just recently fluctuated with high volatility against the Japanese Yen, as, previously, the currency exchange rate fell drastically due to a breakout of a triangle pattern to the downside. Due to such recent movements a clear descending channel pattern revealed itself. Moreover, the pattern's trend lines have been confirmed numerous times, as the currency pair has shown
The Kiwi is depreciating against the Loonie in a descending channel pattern, which has formed due to the currency pair bouncing off a resistance of a channel up pattern, in which the rate had been since the middle of August. The most interesting detail about this currency exchange rate is that the channel up pattern has been recently broken in
The Pound is trading in a tight descending channel pattern against the Australian Dollar, as the currency exchange rate once more approaches this year's low level of 1.6723 previously reached in the middle of August. The downward movement began when the rate bounced off the post Brexit high level of 1.7791 on September 15. However, the channel down pattern was
The long term situation on the EUR/GBP pair is not as much dictated by patterns, as it is set by the Fibonacci retracements connecting the high level of December 31 of the year of 2008 and the low level reached on July 17 in 2015. On a larger scale the currency exchange rate fluctuates in the borders of a rising
The Pound is depreciating against the Swiss Franc simultaneously in two patterns. On a larger scale it is a channel down pattern, and in short term it is trading in accordance with a falling wedge pattern. The wedge is the currency exchange rates movement downward after it bounced off the channel's resistance line on September 6. Most recently the currency
USD/TRY showed signs of a rectangle formation early September, however, further developments suggested that the pair follows an ascending triangle pattern, implying that the market will continue trending for bulls to gain. An attempt at 2.9871, the triangle top trend-line, did not end with a close near the resistance line, causing the rate to take a more flattish road up.
Following a double top formation, EUR/NZD broke the neckline just to dive into a descending channel and confirm the bearish themes once again. The pair touched the upper trend-line of the pattern at 1.5252 just moments ago, suggesting that a dip towards the bottom downtrend is to come. 1.5230 will be the first level trying to distract the movement with
The Euro is depreciating against the Japanese Yen, as the currency exchange rate is simultaneously in three patterns on various scale. On a large scale the currency pair is falling in a channel up pattern, and on a medium scale it is in a triangle pattern, which represents the surge from the large scale pattern's lower trend line to the
The Kiwi is surging against the Swiss Franc simultaneously in three patterns. First of all the currency exchange rate is in a rising broadening wedge pattern on a large scale, as the pair has been trading in accordance with the wedge pattern since March. Secondly there is a medium term channel up pattern, which shows the way for the rates
An attempt at a symmetrical triangle formation failed early September when the rate reinforced the recently broken upper trend-line, causing the rate to take on a bullish channel. The bottom trend-line remained relatively stable, increasing its significance with repeated tests to the downside. Bullish potential reflected in a descending wedge formed on the 30 minute chart, meaning that the uptrend