Two notable developments have taken place on the charts of the EUR/HUF since the last review.
The previous review of the USD/THB currency exchange rate concentrated on the newly formed less steep bullish pattern. On Tuesday,
After hitting the upper boundary of both the senior and the junior patterns at 84.54 On June 6, the AUD/JPY exchange rate changed its sentiment and began a new wave down.
Following a reversal from the upper boundary of a dominant descending pattern on June 22, the Australian Dollar has been moving in a two-week narrow downtrend channel against the Canadian Dollar.
The US Dollar has bounced against a combination of support levels that surround the lower trend line of a dominant ascending channel pattern against the South African Rand.
The common European currency has been surging against the Russian Ruble during the past two trading session. The surge was caused by the meeting of a dominant support level near the 72.60 mark.
The bearish sentiment that began late January has guided the GBP/JPY currency pair lower towards the September 2017 low level at 143.16. This mark –8.47% decrease in price during the last six months.
The New Zealand Dollar has diminished in trading range against the Japanese Yen during the past few weeks, thus forming a new junior descending pattern. The upper boundary of the junior channel was tested on June 13.
USD/DKK has been ranging in the 6.3000/6.4715 since mid-May.
The USD/THB exchange rate was trading in an ascending channel for three-and-a-half months prior to breaching this pattern to the upside mid-June.
The price movement for the EUR/CAD exchange rate has been constrained by several channels. The most important of which for swing traders is the junior ascending pattern in line with the dominant uptrend channel.
The common European currency has been bound in several long and short-term patterns against the Australian Dollar which have guided the price up since early June.
The US Dollar has appreciated substantially against the South African Rand since mid-May.
The bearish momentum which guided the EUR/RUB exchange rate during the first part of May changed its direction later in that month.
After hitting the weekly pivot point at the 1.7779 mark on June 22, the Pound Sterling changed its market sentiment against the Canadian Dollar and began to make a corrective move south.
Following a reversal from the lower boundary of a dominant ascending pattern on June 6, the British Pound began a new wave in a channel up against the Australian Dollar.
The Euro continues to strengthen against the Hungarian Forint since hitting a medium-term channel at 317.00 early in June.
USD/ILS has been trading in a long-term ascending wedge.
The CAD/JPY currency pair has shown no massive changes to its overall price movement during the past few weeks.
Following a massive surge of 9.40% which happened beginning of February, the US Dollar has been trading in a junior descending pattern against the Swiss Franc. The currency pair tested the lower boundary of an ascending channel on June 26.
The EUR/NZD exchange rate has been stranded in a descending tringle for the last eight months.
The Euro has been trading in an ascending channel against the Polish Zloty since late December, 2017.
The Swiss Franc has appreciated significantly against the Japanese Yen since the beginning of May. The surge began after the exchange rate hit the weekly support level at 108.64.
Following up on last week analysis for the AUD/CHF currency pair. Bears have continued their dominance in the market and drove the exchange rate lower towards a support cluster set by the weekly and the monthly pivot points near the 0.7293 mark.