The Pound continues to creep higher against the Japanese Yen by finding constant support in the lower trend line of the dominant channel up pattern.
Due to some new developments on the EUR/GBP currency pair, a review of the technical charts has been done.
On September 7, the USD/MXN exchange rate entered an ascending channel.
The common European currency has been trading in a downward-sloping channel against the Singapore Dollar for the last two months.
Although the USD/ZAR pair is not that popular due to low volumes and fundamental moves, a review of the pair needs to be done due to a recent rebound against a dominant resistance level.
The USD/RUB has been monitored constantly by the Dukascopy analysts. Due to a recent development and update to the situation has pressed for the need to be posted.
The EUR/PLN exchange rare is trading in two opposing channels. The senior pattern is a six-week channel down, while the pair's movement during the past week-and-a-half has been guided by an ascending channel.
The Turkish Lira has been weakening against the Japanese Yen during the past week, thus forming a falling wedge.
The Australian Dollar has reached the previously expected target of 1.1266, where the monthly second resistance is located at against the New Zealand Dollar.
On the chart shown one can still see the previous ascending channel pattern, which was broken due to bouncing off the resistance of a dominant channel down pattern.
The AUD/CAD exchange rate has been trading sideways for the last seven weeks.
The common European currency is trading in two ascending channels against the Norwegian Krone.
As it was expected the rebound of the Euro against the Swiss Franc did not last in a narrow ranged channel up pattern.
The previous review of the US Dollar against the Swiss Franc stated that the pair will reach the monthly resistance at the 0.9830 mark and a new ascending pattern will reveal itself.
During the past two weeks, the US Dollar has gained momentum against the South African Rand, thus forming a steep ascending channel.
The Aussie is trading in three channels simultaneously against the Singapore Dollar.
The Swiss Franc rebounded against the lower trend line of the most dominant pattern last week against the Japanese Yen, when the pair was last reviewed.
After the recent development and breaking of various minor channel patterns the Pound has revealed a new direction and a new long term pattern against the Japanese Yen.
Following the massive plunge on October 8, TRY/JPY entered a period of consolidation in the result of which an ascending wedge was formed.
It might be said that USD/DKK is trading in three channels simultaneously. The most prominent one has confined the rate in a downward-sloping movement since early December, 2016, as apparent on the daily chart.
The forecast for the EUR/CAD turned out to be precise, as the pair did get squeezed into a small triangle and broke downwards,
During the previous review of the EUR/GBP pair our analysts predicted a rebound on a large scale.
The Canadian Dollar has been weakening against the Swiss Franc during the past seven weeks, thus forming a channel down.
GBP/AUD was driven by upside momentum in September that resulted in the pair peaking at its three-month high circa 1.72.