SGD/JPY added 13% in just a month, led by an ascending channel pattern which is still intact. The pair is now making its way through the channel pattern with a target at the bottom trend-line of 81.31. The pair now faces the weekly R2 at 81.71 which it will most likely dash through to test 81.50 before the bottom trend-line
The Pound showed some gloomy technical aspects against the Canadian Dollar on the four-hour chart and managed to sketch a channel down pattern to contain the bearish motion. The pattern sill needs some confirmation in order to be considered credible enough to base a strategy on. We now expect the pair to dip towards the bottom trend-line of the pattern
EUR/NOK corrected the weekly highs it was attempting with a rising wedge pattern, suggesting that a downfall might follow. The rate has just exited the pattern to the downside and is currently attempting the 20-period SMA at 9.0335. More risk is located at 9.0252 and then 9.0204/0190 and we will most likely look for the levels to crumble, following a
EUR/CAD sketched an ascending channel pattern on the hourly chart, and then broke it just a few hours ago. It now appears that a bearish motion should follow, but the area below has not been explored since July 2015. We will therefore expect the dive to experience trouble with sliding below 1.3846, the December 12 low, or even cut the
EUR/JPY left September lows with a surge and then consolidation inside of an ascending triangle pattern. The pair has just broken the upper boundary of the pattern and appears to be on its way to retrace form the broken level. We now expect the rate to tap at the resistance level of 112.75 and extend the surging motion after it
A symmetrical triangle suggested that the upward motion will continue for AUD/SGD, leading into levels unconquered since May 2015. The pair posted a high on November 10 at 1.0815 and could see this as an attractive target for the nearest movements. The rate has been sticking to the triangle resistance at 1.0702 recently, suggesting that a breakout will come rather
HKD/JPY exited the latest of a set of consecutive channel up pattern in an extensive surge, breaking the upper trend-line at 14.9941. We would look for a traditional retracement of the broken trend-line before a more extensive soar comes about. The rate is currently testing the upper Bollinger Band at 15.1666 and it could fail to break it and go
A wedge brought AUD/CHF closer to October highs of 0.7661, meaning that the rate could attempt the level and break the wedge when it fails. The bottom trend-line of the pattern is strengthened by the 100-period SMA and cloud support, meaning that it will have to decisively push through in order to sustain the breakout. The pair is currently on
AUD/CAD fell from two and a half year highs inside a wedge that now brings some bearish potential to the table. The pair has just overstepped the upper trend-line of the pattern and will face several resistance levels along the surge. Immediate supply lies at 0.9866 and 0.9884 before a red cloud of 0.9893/0.9974 comes along. We would expect at
After a quick recovery from the US Presidential Election dive, AUD/CHF entered a rising wedge to show some decent bullish momentum, but build up bearish potential at the same time. The pair is now hovering mid-pattern and we will watch 0.7543 closely for signals of a potential breakout. The latest wave south pointed out some stickiness of the bottom trend-line,
USD/NOK set a December high at 8.5290 a few days before, but went on to dive 1.6% inside a falling wedge pattern. The pair has just dashed through the upper trend-line of the wedge as well as a red Ichimoku cloud and is now on its way to test 8.4300, the daily Pivot Point. It now appears that a decisive
NZD/CAD took on a slightly downward sloped motion which came to sketch a falling wedge, building up some bullish potential. The pair is now testing the cloud resistance – 100-period SMA cluster and could go through another wave south before a break out of the pattern. In this case 0.9447 will become the nearest target with just some risk left
Guided by an ascending channel pattern, GBP/JPY climbed above July highs and is currently trying to distance itself from the bottom boundary and soar above the weekly R1 at 146.56. We expect the pair to continue its way inside of the pattern and attempt the upper trend-line around 150.34. A dive, however, would require some more stickiness of the bottom
AUD/JPY traded inside the bounds of an ascending channel for the lasts six days, and appears to have now found some stickiness along the bottom trend-line of the pattern. The pair could now either continue its way inside of the pattern and target the upper boundary at 87.08 next, or put up another attack at the bottom boundary and
A set of channels led USD/CAD down from November highs, and the pair has just broken the upper boundary of the latest one. We will now look for a retracement from the broken trend-line around 1.3113 and an extensive surge after that. The rally could experience some issues at 1.3135 and then 1.3140, and could slow down after that, as
In addition to the large scale bearish nature of the pair, USD/ZAR continued the gloomy themes in a descending channel pattern and is currently on its way towards the bottom trend-line. The rate has dashed through a green Ichimoku cloud and will face 13.58 as the next demand zone. A break below the area would lead to tests of 13.51,
GBP/AUD has been surging inside of a channel up pattern for the last month or so, and is currently approaching the bottom trend-line of the pattern. The pair is currently inside of cloud and has been consolidating for the last three sessions. Immediate resistance lies at 1.6918/24 and a break above would lead to tests of 1.6943, while a break
The falling wedge CAD/JPY sketched over a two-year period broke in November, putting up a decent rally of five consecutive green candles. We would expect the surge to continue, but a correction is definitely not out of the picture, as the extensive soar could require some supply to remain sustainable. The correction is supported by the red cloud the pair
The channel-like formation USD/ZAR had sketched over the last month or so lost volume of highs and established a falling wedge pattern. The pattern appears to be potentially mature enough to break at the upper trend-line at 13.8563 which it is currently testing. A surge outside of the pattern would encounter supply pressures at 13.8729/8857 and then 13.9606/9821, before 14.0595/0750
The two-day dip of GBP/USD has allegedly come to an end with a double bottom formation, which has not broken the neckline yet. The pair is currently trading mid-pattern and is expected to target the neckline at 1.2615 next. The daily Pivot point at 1.2584, bolstered by the Ichimoku cloud as well as the 55 and 20-period SMAs, has now
Following a 2.8% dive over the last couple of days, GBP/NZD entered a descending triangle to continue the bearish themes after a consolidation. The pair is now making its way through the pattern towards the southern border and is likely to break below the support line of 1.7509 eventually. After exiting the red cloud resistance the pair will face just
After it appeared that CHF/JPY has been forming a rising wedge on the four-hour chart, it managed to take the form of a channel and cast some optimism in the technical outlook. The pair has just completed its retracement of the channel bottom boundary and is now likely to extend the downtrend into areas below. The first such area that
A rising wedge led CAD/HKD out of the four-month descending channel, which has now built up some bearish potential for a correction of the broken senior channel trend-line. The pair is now repeatedly approaching the upper trend-line of the wedge at 5.8839 which brings some more upside risks into the picture. While we still believe the pair will exit the
GBP/CHF gained 8.6% since early November while trading inside of rising wedge. The rate dipped underneath the bottom trend-line of the pattern on December 7 and has just executed a retracement of the broken trend-line. We now expect the pair to extend the bearish trend and tackle 1.2765, the weekly Pivot Point with added strength by the upper boundary of