Euro-Swiss franc cross is continuing its slow but steady rally. Pairs further development raises very few questions. Short and medium term technical indicators point at further appreciation of the pair. We can also observe clearly bullish sentiment in the market—75% of all open positions are long and 90% of all pending orders are long on the pair as well. Short term
USD/TRY is currently eroding the up-trend line, meaning that we are unlikely to see continuation of U.S. Dollar's appreciation in the nearest future, as we did in the recent past, unless the currency pair rebounds from the support at 1.9181 and returns back above the 200-hour SMA despite the mixed signals of the technical indicators.However, traders are already positioned for
Within the last 100 trading hours AUD/JPY has managed to breach the 200-period SMA and confirm it as a current support level, forming the bullish channel in the meantime. However, for now, until the lower boundary of the pattern is tested a few more times, we would rather trust the up-trend resistance line when estimating the most likely reversal points.All
During the last 313 hours we were observing the appreciation of the greenback versus the Turkish Lire, and according to tools of technical analysis a penetration of the support line in the nearest future can be expected.The majority of market participants (72%) are opening short positions, while indicators on a 1H chart are sending "sell" signals, also adding to signs
A Triangle pattern was formed by NZD/CAD on the May 29, when the pair dropped from 0.8465, currently represented by a Fibonacci Retracement. The pattern can be very profitable for trade, as the trading range is narrowing and is now only 180 pips. Therefore, a breakout is expected, but not later then July 26, when both trend lines will converge.According
Pair started with a rather noisy trading period which significantly lowered its quality rating (56%) and in a sense artificially imploded magnitude (50%). However, we can see that pair is developing rather neatly in the ranks of the pattern and higher return could be expected from planned movement towards the pattern's resistance rather than from unexpected rallies. Expectations of a
EUR/CHF as most of the euro as home currency denominating pairs are posing for a rally. In the cross with the Swiss franc we should expect short term appreciation, but it is rather doubtful if the pair will manage to reach the pattern's resistance uninterrupted. Main sources of such doubts are the Stochastic indicator in the short and medium term
JPY as foreign currency denominating pairs have been appreciating for quite some time. As a consequence, appearance of the channel up pattern was rather anticipated. Technical indicators suggest a calm, even a sideways development of the pair in the short and medium term. Current market sentiment (72% of open positions long) and long term technicals, however, point at the pairs
Since Jun 21 EUR/PLN has been consistently respecting the converging trend-lines, forming the triangle on a 1H chart. Considering that this pattern implies continuation of a major move, we expect an eventual break-out to the upside; however, for now the resistance at 4.3565 holds and in a very short term is unlikely to give in. Still, daily indicators are bullish,
Despite the fact that the pattern is only 33 bars long, both trend-lines forming it proved to be reliable in defining fluctuations of GBP/NZD. Just now the pair has encountered an up-trend support at 1.9544, meaning that it is expected to recover up to 1.9761, where the upper boundary of the pattern should be hit along with the daily R1
Despite the recent rebound from the pattern's resistance pair is facing significant upside pressure in the short and medium terms. It is so indicated by the short and medium term technical indicators. In addition to this current market sentiment is strongly bullish—73% of all open positions are long on the pair. Pending orders do not suggest any comfort for the
For some time now pair has been trading in a 0.940-0.950 cent range and is likely to continue doing so in the short term. It should hit pattern's support and, as indicated by the medium term technicals, bounce from it. In the long term, however, pair seems to be likely to return trading sideways. Range trading, both in the short
After a rather noisy trading period in the middle of June, it seems that pair has returned to a relatively calm pace of developments. In addition it seems to be following the pattern rather nicely as well. After a recent bounce from the pattern's support we have seen almost only a constant appreciation. Thus, a bearish correction suggested by the
Pair has been developing in the frame of a rising wedge pattern rather well. There was a noisy period yesterday, but after a pullback pair returned in to the pattern's zone. It is worth mentioning that the gap between the pattern's support and resistance narrows by 450 pips in 100 bar period. Current market sentiment is strongly bearish—72% of all
A 201-bar long Channel Down pattern was formed by CAD/HKD in the beginning of May. At the moment of writing the pair was traded at 7.400, almost in the middle of a trading range. As aggregate technical indicators do not give a clear "buy" or "sell" signals, the pair is likely to be driven by market sentiment, which is strongly
During the last trading week we were observing an appreciation the Aussie versus the Swiss Franc. The pair is changing hands at the level, which is represented by the lower trend line, so a penetration of this line should be kept in mind. Even though the market sentiment is bullish (72%), the majority of aggregate technical indicators are sending "sell"
Despite the noisy trading period some week ago pair is developing in the ranks of a channel down rather well. We might see some short term rallies (as indicated by the 4H technicals), however, daily and weekly technicals point at a further depreciation of the pair suggesting it is rather likely to maintain bearish trend. Some worries might be coming
For the past 2 and a half months pair has been narrowing its trading range (by approximately 50 pips in 100 bar period). At the moment it is trading somewhere around third of the pattern's length left till the triangles apex. Although pair has bounced from the pattern's support and it would be about time to breach the pattern, technical
Formation of this channel up is the currency pair's second attempt to surge from a low of 91.81 reached on Jun 13. A previous rally failed to extend beyond 95.13 (Jun 20 high)—a level that may again prevent prolonged appreciation of the Canadian Dollar relative to the Yen. Moreover, traders' sentiment is strongly negative at the moment, being that 74%
Although USD/SGD has been trading in this bullish channel for 270 hours, right now it is threatening to breach the lower boundary of the pattern at 1.2648 last tested on Jun 19; the 200-period SMA has already been violated. Additional tough supports in case of more bearishness are to be found at 1.2619 and 1.2567.In the meantime, 4H and daily
A Descending Triangle pattern formed by GBP/CHF on the April 17 is moving closer to its apex, as both trend lines will converge on July 15, therefore some significant movement can be expected. Even though technical indicators on aggregate are not univocal and sending mixed signals and market sentiment is just slightly bullish (59%), the pair can be very profitable
A rare Double Top pattern was formed by EUR/NZD more than 2 months ago. At the moment of writing the pair was trading at 1.666, level represented by a 23.80% Fibonacci Retracement.As the market sentiment is slightly bearish and aggregate technical indicators on 4H chart are sending "sell" signals, a movement to the support line can be expected. In case
Despite the fair share of fundamental events related to the USD which cause significant amount of the noise in the market pair has been developing rather neatly in the ranks of the Channel Up pattern. After a recent rebound from the pattern's resistance which at the same time was the pairs 30 month high it is moving towards the pattern's
After a few noisy periods in the market it seems that the pair has returned to a more or less normal pace of the development. From the recent developments it seems that the pair ahs reached its new relative low therefore pair further appreciation, as suggested by the short term technicals, becomes even more likely. In addition to this,