Recently the US Dollar reached historical low levels against the Swiss Franc. However, after flirting with the low level below the 0.9450 mark the currency exchange rate has rebounded.
At first glance the situation on the USD/RUB charts looks chaotic. However, if one delves deeper into understanding the currency exchange rate, it is clear what is occurring.
The Pound has been trading in an ascending wedge against the New Zealand Dollar for the last nine weeks.
Following a six-week depreciation against the Swiss Franc, the Kiwi managed to reverse early in September and recover half of the losses.
After meeting the 61.80% Fibonacci retracement level of the 2016 low and 2015 high levels the Aussie has been declining against the New Zealand Dollar. The fall of the rate has been occurring simultaneously in two descending channel patterns.
The recent fundamental surge of the British Pound can be most noticeably seen on the GBP/JPY currency exchange rate charts.
USD/MXN is trading in two channels simultaneously.
The Swiss Franc has been trading in a short-term decline against the Singaporean Dollar for almost a month.
The common European currency recently rebounded against the lower trend line of a dominant pattern against the British Pound.
Almost all of the various timeframe patterns on the EUR/AUD pair are aimed down. However, there is one exception.
The Canadian Dollar is trading in two patterns simultaneously against the Swiss Franc.
The South African Rand was trading in an ascending channel against the Japanese Yen for the last five weeks.
On a large scale the US Dollar is trading against the South African Rand in a symmetrical triangle pattern. Meanwhile,
The review of the USD/CNH pair was not done for quite some time. However, it can be observed that the large scale situation has not changed.
AUD/SGD is currently trading in two channels down simultaneously.
The US Dollar has appreciated against the Norwegian Krone during the past four weeks.
The common European currency continues to lose value against the Canadian Dollar, and the rate is set to continue to decline in the future.
The Loonie recently made great gains against the Japanese yen. In most part the gains can be accredited to the recent political turmoil on the Korean Peninsula
The Australian Dollar was trading in a channel up against the Japanese Yen for a few weeks prior to breaching this pattern to the upside.
The common European currency has been depreciating against the New Zealand Dollar since early September, thus forming a falling wedge.
After the recent fundamental developments in the UK the British Pound has jumped. However, the move was expected on the larger scale charts.
The recent events in the UK monetary policy have strengthened the British Pound beyond most previous expectations.
Following a mediate-term decline that ended in early July, XAD/USD started to trade in an ascending channel.
The New Zealand Dollar has been trading in a four-week descending channel against its Canadian counterpart.