EUR/GBP fell short of posting a second successful attempt at the January high of 0.8842 and broke the nearly perfect channel up pattern to sketch another one in the opposite direction. The pair has just confirmed the trend-lines enough to make the pattern at least somewhat credible, meaning that we will look for a fall to the bottom boundary at
EUR/JPY failed to step above the nine-month high of 123.43, showing the fourth consecutive unsuccessful attempt, this time not even touching it. The pair has now sketched a channel down pattern on the hourly chart which appears to be still holding strong. It is currently in the middle of the pattern and on its way towards the bottom trend-line around
The Canadian Dollar is trading simultaneously in three descending channel patterns against the Swiss Franc. However, clues indicate that the currency exchange rate is about to surge in the near future. The pair has reached the lower trend line of the dominant, large scale descending channel. After two attempts to pass it the currency pair rebounded, and most recently
The common European currency is in an ascending channel pattern against the Hong Kong Dollar on a medium scale. However, the currency exchange rate has already reached and bounced off from the upper trend line of the dominant, long term descending channel pattern. Due to this factor the currency pair is most likely set to move lower and pass the
EUR/TRY put an end to the promising upward motion within a small-scale channel down pattern, destroying any hopes that the repeated attack on the all-time high of 4.1665 might be successful. The pair posted a double top on the hourly chart at 4.0145 and went on to form the bearish pattern, inside which it hit the 3.9670/57 with the last
GBP/AUD attempted to abandon the three and a half-year low of 1.5913 which it tested in October 2016, but has not been conclusively successful yet as a ranging motion has emerged on several time frames. The pair has sketched a symmetrical triangle on the hourly chart which suggests that the downward motion should extend below the critical area. The rate
The long lasting ascending channel, which guided the price of silver higher since the start of December has run into a problem. As a result of the commodity price encountering the upper trend line of the long term pattern a descending channel in the matter of a couple weeks pushed the rate lower to the combined support level of the
The US Dollar is trading in a descending short term channel against the Swiss Franc. However, that does not indicate that the currency exchange rate is set to decline, as the pair has already reached the lower trend line of a dominant pattern. Most recently the Greenback rebounded against the Swiss Franc due to the encounter of the before mentioned
Gold set a four-month high at 1,258.62, but did not manage to sustain the area and started a fall inside the bounds of a channel down pattern. XAU/USD could ultimately confirm the bearish potential in a head-and-shoulders pattern with a neck-line at 1,188.64, meaning that the pair's bounce near the area and violation of the upper boundary, should not be
GBP/CHF sketched a channel down pattern on the hourly chart, signalling a downtrend, but then turned into a falling wedge formation with a broken upper trend-line. The pair corrected the breakout and then went on to re-enter the pattern in a very steep southward motion. The steep motion is bound by 1.2263 and 1.2240 from above and below respectively and
During the latest fundamental turmoil in Turkey the Turkish Lira has lost value against the US Dollar in a large scale channel pattern, which can be seen on the USD/TRY exchange rate. Most recently a medium scale pattern lead the rate down to the lower trend line of the large scale pattern. As a result of a rebound an ascending
The common European currency is in an ascending channel pattern against the Turkish Lira. The pattern came into existence because the currency exchange rate rebounded against the 38.20% Fibonacci retracement level, which is located at 3.7761 level. The ascending channel is the representation of the resulting surge. During the move the currency pair has broken through also the resistance of
After setting an all-time high at 16.94, USD/ZAR started an extensive downfall and has been maintaining it ever since. It set a channel down pattern to frame the motion for the last three months or so, but managed to break it to the upside, giving out some fairly bullish signals over the last couple of days. The pair hit the
A second attempt at launching an attack on December highs of 118.28 turned out unsuccessful with a head and shoulders formation on the hourly scale. The shoulders lie at 114.90, while the top is set at 115.43, and the pair has just broken the neckline of 114.71 to show a conclusive bearish signal. However, it appears that the pair is
EUR/NZD managed to abandon 1.4634, the two-year low and showed some decent bullish momentum immediately after the surge had extended. The pair changed the steepness of the motion for a few times before a channel up pattern conclusively emerged and led its movements for the whole previous week. The rate opened with a bearish movement on Monday and slipped to
The Singapore Dollar continues to surge against the Japanese Yen, and a stop to the rise of the currency exchange rate is not even close. The rate is being guided in the middle of a large scale ascending channel by a medium term channel up pattern to the dominant pattern's upper trend line. Moreover, most recently there was only one
The US Dollar is surging against the Mexican Peso in an ascending channel pattern. The pattern formed as a result of the rate rebounding against the lower trend line of the large scale descending channel. Moreover, the short term pattern has broken through the previously active medium term pattern. This means that a new medium term trend is in the
EUR/CAD is trying to exit the trading range that it had been bound by for the four previous months with a step above the upper trend-line of 1.4271. The pair sketched a channel up pattern to lead the motion north and managed to hold it in power when crossing the significant level. The bounce from the upper trend-line that has
The steep surge CHF/JPY extended on the hourly chart shows little sustainability due to the extreme nature of the slope as well as the diminishing highs that have led to a rising wedge formation. The pair is currently bound inside of a very tight range and is closer to the bottom trend-line than the upper one, meaning that the pattern
The yellow metal has been trading in a descending channel pattern since the end of February. However, most recently the bullion's price reached the lower trend line of a large scale ascending channel. Although, this does not necessarily mean that a rebound is about to occur and a few weeks of gains are about to occur. The large scale channel
Although the Australian Dollar is in a descending channel pattern against the US Dollar, the currency rate has recently rebounded and set a course higher. In general, the descending channel is the result of the US Dollars surge against the rest of the currencies in the market. However, each pair has its own particularities. From a technical perspective the AUD/USD
It appears that EUR/SEK has entered a ranging phase on the daily chart and created a channel down pattern to help it reach the bottom bound of the range around 9.4189. The pair has, however, showed bullish potential with a step above the upper trend-line of the pattern and a correction, which now calls for a sharp movement north, possibly
EUR/PLN cut the ranging market in an ascending triangle pattern which might bring the pair away from half-year lows of 4.2822 and could be possibly a start to a large-scale bullish reversal. The pair has been testing the upper boundary of the pattern quite a lot, so there are mixed signals on whether the next wave south will be executed
The Greenback is also surging against the Swedish Krona. However, there is a particular detail regarding the medium term movements of the currency pair. The rates medium term pattern is a result of the rate rebounding against a Fibonacci retracement level not a lower trend line of the dominant pattern. The rate bounced off the 38.20% Fibonacci retracement level, which