In addition to limits of the channel up pattern restricting EUR/SEK moves since mid-February, the pair got trapped between its short-and log-term SMAs that locked EUR/SEK in 200-pips wide range. Considering the disposition of the SMAs - 50-bar SMA at 9.0472 is unremittingly moving down to the 200-hour SMA at 9.0262 - we may expect a ‘death cross' to appear
EUR/NOK eventually broke the chains represented by a 363-bar long falling wedge pattern. The breakout happened several hours earlier but a massive sell-off is still likely to lie ahead. After penetrating the lower limit of the pattern, the pair found support at a six-month low of 8.1468 that postponed a further drop. However, this line is expected to be
Since early May, the Australian Dollar has been in the up-trend against the Japanese Yen. The advance started close to a three-month low and has been developing inside two gradually diverging upward sloping lines. Several hours earlier, AUD/JPY neared the lower boundary of the corridor; however, a further slide is unlikely given a solid support pertaining to the 50-hour SMA at
Even though since the beginning of April each consecutive low was higher than the previous one, every new rally of CHF/SGD was capped by 1.4322, resulting in the end in emergence of an ascending triangle. However, the lower boundary of this pattern has already been broken to the downside, meaning the outlook on the Franc is bearish. The first target
As AUD/SGD found strong support in the face of 1.1561 on May 2, it was able to commence a robust recovery and eventually form a bullish channel. And while the short run is associated with downside risks due to a current downward correction from the upper trend-line, in the longer-term perspective the Australian Dollar is likely to continue to appreciate
EUR/GBP is currently trading in boundaries of two trade patterns, including the falling wedge and a descending triangle, both formed on a 4H chart. Keeping in mind lower trading volumes, and the fact both trend lines will converge in a couple of days, the pair is likely to be highly volatile soon. The outlook is bearish both from the perspective
On Thursday the USD/ZAR pair penetrated the important support line at 10.361. The sell-off was not a result of fundamental news, hence, the pair is currently driven purely by the technicals. And according to aggregate technical indicators, the pair will continue depreciating. Market sentiment is slightly bearish as well, despite the fact the greenback is bought in 71% of the
For more than a month started April 11, EUR/GBP has been unable to ascend significantly as any bullish moves have been blocked by a downward-sloping ceiling—a trend-line of the 101-bar long descending triangle pattern. At the moment, EUR/GBP is trading in a 17-pips wide range that will continue narrowing down in the hours to come. This signifies that the apex
The Australian Dollar started to lose ground against the currency of neighbouring country after it approached a two-month high of 1.0915 late April. The decline was developing inside a bearish corridor, the upper trend-line of which has been recently penetrated. The breakout was a part of a sharp rise underpinned by a jump above the 200-bar SMA at 1.0786. Now is
EUR/CAD was on the rise during more than a year ended in mid-March when the pair attained a five-year high of 1.5587 located at the upper-limit of the 341-bar long triangle pattern. Now the pair is vacillating not far away from the apex that is likely to be reached in about a week. This suggests that we may expect a
A triangle pattern formed by EUR/SGD had originated several weeks before the pair hit a three-year high of 1.7673 in mid-March. After reaching this peak, the pair was mostly tilted downwards; however, recently, the instrument managed to perform a toilsome climb and broken out of the 366-bar long formation. Considering the proximity of the apex-it will be reached on May
Being well-supported by 92.39, CAD/JPY managed to commence a recovery, which seems to be taking place within the boundaries of the upward-sloping channel. Accordingly, the Canadian Dollar is expected to move further away from the rising support trend-line located at 92.73 and aim for the rising resistance trend-line at 94.10.However, if the current bullish tendency persists, there is going to
EUR/SEK has been generally recovering since mid-February, which subsequently allowed it to form a bullish channel. However, just recently the currency pair has encountered the upper edge of the pattern, signalising a beginning of a bearish correction. Accordingly, the rally will be postponed and the sell-off is likely to extend, potentially down to the lower boundary of the corridor, namely
The U.S. Dollar started an accelerating decline against its Singapore's counterpart in the beginning of the spring. The drop has been developing within the boundaries of the 220-bar long channel down pattern that pushed USD/SDG to a six-month low of 1.2452 in the first days of April. At the moment, the pair is trading near the daily pivot point at 1.2483
After attaining a two-month low of 1,298.07 on April 24, gold changed its trend and entered an upward sloping corridor, inside which it is vacillating at the moment. Now the most traded metal is sitting not far away from a one-month high of 1,315.95 and is likely to re-approach this peak given that over 75% of market participants are bullish
A sharp retreat that followed a rally to a multiple-year high of 2.3915 performed by USD/TRY in the beginning of 2014 pushed the instrument into a bearish channel that now is 210-bar long. Since late April, USD/TRY has not touched the tunnel's limits; the pair has been simply balancing between small gains and losses. At the moment, there are no
A 181-bar long descending triangle pattern originated near a six-month high of 0.8324 touched early April. Recently, AUD/CHF has breached the upper limit of the formation. However, the advancement was short-lived and now the currency couple is nearing the 200-hour SMA that represents the last defence of a drop to the triangle's trend-line that if broken will push the pair
Although this bearish channel is only 50 bars long, there is a good chance that the down-trend lines implied by it are going to be influential in the coming days. Consequently, we would expect the resistance at 1.2492 to prevent any rally from extending beyond that point and subsequently initiate a sell-off, which may potentially bring the price below the
XAU/USD is currently consolidating after a massive rally observed during the first two and a half months of this year, as it was unable to pass the resistance at 1,389.71. At the same time the pair was supported by 1,273.20, which preserved the overall bullish outlook for gold.As a result, the price broke out of the pattern to the upside
Both the Pound and the kiwi are highly attractive for traders, keeping in mind hawkish RBNZ and strong fundamentals from the U.K. The GBP/NZD pair, however, is driven by the kiwi, as during the one week period the pair has plunged more than 400 pips. The pair is trading around pattern's lower boundary and while usually it will be interpreted
The overall trend in CAD/HKD is sideways, however, during the last several months the pair has been climbing higher. On April 23 the pattern was at risk of a breakout, as bears pushed the pair up to the lower trend line. The level of 7.0139 also supported by a 200-period SMA managed to limit pair's depreciation and until now bears
USD/CHF exited a 200-bar long triangle pattern in the first days of May. Although the breakout was bearish, we have not seen a massive sell-off up to now and considering the SWFX data, the pair is likely to lack direction in the foreseeable future. According to the SWFX numbers, about 54% of traders bet on appreciation of the pair, while
The British Pound was on the rise against the Japanese Yen during dozens of months. The pair halted its advancement only early 2014 when it eventually approached more than a five-year high of 174.85. After that, the instrument has been trading flat and shaped a 177-bar long triangle pattern. GBP/JPY now is on the verge of a breakout as it has
A rise to a five-year high of 1.1279 put a drag on USD/CAD. The pair succumbed to a heavy selling pressure and started to form a channel down pattern in mid-March. After an unsuccessful attempt to break out of the pattern in the very end of April, the currency couple has been meandering near the upper limit of the corridor and