The two top risk off currencies have reached a critical level on the daily chart one against another. The pair recently bounced off the lower trend line a dominant pattern and moved to the resistance of a junior channel down.
The common European currency recently hit a dominant support level against the British Pound. However, that does not necessarily indicate of an upcoming surge.
USD/SGD is being dominated by several channels, the most important of which in the short term are three.
The Turkish Lira has been trading in a channel down against the Japanese Yen for the last three months.
The common European currency is still being supported by a medium term trend line against the Swiss Franc. However, recently there have been new developments.
The Australian Dollar recently surged to confirm a trend line against the New Zealand Dollar. Due to that reason market participants are finally able to draw the previously expected to reveal itself medium size pattern.
The common European currency has appreciated substantially against the Swedish Krona within the past three months.
The US Dollar is currently trading in a long-term channel up against the South African Rand.
Recently the Pound rebounded against a support line of a long term channel up pattern against the New Zealand Dollar. However, the resulting surge has already stopped, as it has met a junior resistance.
After holding out for a rather long period of time the previously drawn medium scale speculative ascending pattern on the EUR/AUD currency pair was broken. Due to that reason and the high demand for this exotic pair another review is being done.
The US Dollar has been appreciating against the Swedish Krona in an ascending channel since late August.
The common European currency has been appreciating against the Loonie since mid-July.
The EUR/NZD currency pair has not been reviewed for some time. However, there also have not been large changes occurring during that time.
The US Dollar has broken the lower trend line of the previously active long term channel up pattern against the Swiss Franc. As a result of the move a massive channel up pattern has been marked.
After breaching a seven-month channel on November 14, the common European currency began trading in a flat channel up.
GBP/JPY is trading in a three-month descending triangle and a junior falling wedge which was formed on October 20.
The common European currency continues to book new high levels against the Turkish Lira. On all time frames and scales the currency pair is surging and it has been like that for a few years.
The US Dollar is one of the many currencies, which are gaining strength against the Turkish Lira.
The NZD/JPY currency pair has been guided by three channels.
GBP/AUD has been trading in a flat channel down since mid-2016.
The common European currency is trading in a channel down against the Singapore Dollar.
The Pound's movement against the Loonie during the past three months has been guided by an ascending channel, while in the short-term—two additional channels are at play.
CHF/JPY is trading in a two-month descending channel.
The Pound has been confined in a channel up against the New Zealand Dollar since mid-July.