EUR/SEK set a new half-year low on the daily chart in early February, but managed to abandon the area to show a more promising outlook on the hourly chart. A channel up put an end to the small-scale down-wave and will require some more tests to confirm its significance. The pair is currently squeezed in between several levels mid-pattern and
After an uncharacteristic break of the upper trend-line of a descending triangle on the daily chart, GBP/CAD showed some more upside potential in a channel up pattern. The pair is currently testing the bottom boundary of the pattern and we expect it to bounce off and then target the top trend-line. There are, however, some downside risks to consider as
The Greenback is depreciating against the Polish Zloty in a descending channel, as the currency exchange rate has already passed two Fibonacci retracement levels. The currency pair is heading for the 61.80% Fibonacci retracement level, which is located at the 3.9250 mark. However, most recently the currency rate had a rebound against the channel's lower trend line, as the markets
The Pound continues to trade in an ascending channel against the US Dollar. However, new developments have pressured for a review of the situation. Most recently the short term channel seems to have encountered some sort of uncharted resistance. After a review, the high levels of those bounce offs were connected, and it can be observed that they are on
USD/SEK showed a downward sloping motion on the hourly chart in a bearish channel pattern which has now been confirmed two times on both sides, but might show some change of heart rather soon. The southward trend might be cut at 8.7403 which is the January 2016 low and we could look for a bounce to the upside. Until then
After setting an all-time high of 0.9118 in September 2016, EUR/GBP slipped and then entered a ranging motion. The pair has just finalized the attack on the upper range area and has entered a channel down pattern to lead it south again. While the channel has remained solid during the last week and a half, diminishing highs are showing some
There is a noticeable short term ascending channel pattern on the EUR/AUD currency pair's hourly chart. However, that short term and small range channel is only the representation of a move in the borders of two more dominant channels. On a medium scale the rate is also in an ascending channel, which is guiding the Euro to the upper trend
The US Dollar is depreciating against the Swiss Franc in a descending channel pattern, as the rate continues to move lower after encountering a notable level of support, represented by the 38.20% Fibonacci retracement level at the 1.0003 level. The Fibonacci retracement levels for this pair are measured by connecting the 2016 high and low levels. The currency exchange rate
USD/MXN looked rather bearish with a double top at 22.01 and several downward sloping patterns guiding the motion south. A senior channel has gained its ground with a multitude of confirmations and solid trend-lines and shows little reason to believe that it might break. The pair has just broken a short-term channel down that has served its purpose to lead
A double top at 118.28 for USD/JPY led the pair south starting December 2016, leading to tests of the recent support at 111.84. The pair has now stepped underneath the level while being bound by a channel down pattern, meaning that this could either be the beginning of a downtrend or just a false breakout. While the channel has not
The US Dollar is trading in a short term descending channel against the Russian Ruble, as the currency exchange rate recently broke out of a medium term ascending channel. The rate might move in the tight range of the descending pattern down to the lower trend line of a large scale descending channel. However, that is highly unlikely, as rarely
The US Dollar is depreciating against the Singapore Dollar in a medium term descending channel pattern. However, the medium scale pattern is about to become obsolete, as the currency exchange rate recently touched the lower trend line of a larger, dominant descending channel pattern. Due to this factor it can be assumed that a medium term ascent is in the
AUD/JPY soared to yearly highs at 87.38 in an accelerated motion, proving that the some time to execute a correction is needed on the daily chart and has therefore sketched an ascending triangle formation. The triangle brings little doubt that the pair will continue the surge when the upper trend-line is broke due to several reasons, including the false breakout
The common European currency is surging against the Russian Ruble in the medium term in an ascending channel pattern. Moreover, the short term descending channel, which has guided the rate for a week, is about to become obsolete, as the currency pair has encountered and rebounded against the lower trend line of the medium term ascending channel. During the rebound
The Australian Dollar is trading in an ascending channel pattern against the Swiss Franc. A month ago, on February 22, the currency pair booked a new high level, which serves as a basis for the measurement of the Fibonacci retracement levels. The retracement levels are measured by connecting the February high level with the 2016 low level. Most recently the
EUR/CAD managed to break the strong resistance area at 1.4282, which had bound a ranging motion from ht upside. The pair has already executed a retracement of the broken area and is now paving the way for a larger-scale surge which would set the next target at 1.4523/4555. The current motion will, however, require some strong bullish pressures to stick
USD/NOK tried to launch a second attack at December 2016 highs, but fell short and set the latest peak at 8.6220, but bounced back to show a 2.5% slip. However, lows have lost volume and led to a falling wedge formation on the hourly chart, which looks mature enough to break immediately and to the upside. Immediate resistance lies at
ZAR/JPY continued its way into areas unconquered since 2015 and managed to show solid bullish potential by confirming an upward sloping channel on the hourly chart. The ultimate target could now lie at 9.203, the resistance of September and October 2015 where supply could take over and lead to a slide. The pair is currently squeezed in between a set
The Pound is surging against the US Dollar in an ascending channel pattern on the hourly chart. However, on a larger scale the currency exchange rate is moving lower in a descending channel. The minor pattern is a representation of the rates surge from the dominant channel's support line to its resistance line. It is most likely that the pair
The Aussie is surging on the daily chart against the Loonie in an ascending channel pattern, which is breaking one by one through Fibonacci retracement levels. The Fibonacci retracement levels are measured by connecting the 2016 high level and the 2015 low level. The retracement levels have been affecting the currency pair's movements for the past two years. It can
CHF/SGD attempted to recover from the 3.3% slip it posted over the last month or so, and sketched a combination of two patterns that give out very different signals on the hourly time-frame. While highs losing amplitude suggest that there might be some bearish potential accumulating, a newly sketched channel up pattern denies a reversal, but might just be too
Following the December attack at the 2015 high of 7.1549, USD/DKK established a downward-sloping channel, which has now added an additional boundary for diminishing highs that point to a falling wedge pattern. We will look for the upper boundary of the wedge to immediately break at 6.9079 and for a steep surge to dash through the resistance of 6.9140 with
The US Dollar still remains in the previously already twice reviewed descending channel pattern against the Mexican Peso. The rate is already approaching the 38.20% Fibonacci retracement level, which is located at the 18.9579 level. The Fibonacci retracement levels are measured on this pair by connecting the 2016 low and high levels. The rate is most likely set to stop
The common European currency in the previous weeks has formed an ascending channel pattern against the US Dollar, as the currency exchange rate has broken out of a previously active medium scale descending channel pattern. The break out and the channel up pattern formed in the aftermath of the rate reaching the lower trend line of the almost three month