Our overall outlook on the Sterling is bullish, but in the short term the currency is likely to lose value against the Franc. Over the last 10 days GBP/CHF has formed a high-quality ascending channel; however, at the moment the price is trading right at the upper bound of the pattern, which implies a downward correction. Accordingly, we expect supply
USD/SGD is in a good spot to rally. The pair has just completed a correction within a 10-day channel, meaning we should see a new bullish wave developing from 1.43. This support is also reinforced by the November 24 low and daily S1. In the meantime, technical indicators in four-hour and daily charts and the fact that the pair remains
The Pound is surging in an ascending channel pattern against the Japanese Yen, as the currency exchange rate has broken out of a long term descending channel patter. However, most recently the pair traded in as broadening ascending wedge pattern, as the rate continued to surge, while actually moving from the ascending channel's resistance line to its support line. The
The Canadian Dollar trades in a rising wedge against the Japanese Yen as a result of a breakout from a more than few years old triangle pattern. However, as the wedge is about to become obsolete, and a new pattern is set to reveal itself, the rate is more affected by something else. There are two notable Fibonacci retracement level
The US Dollar is set to lose value against its Hong Kong counterpart. Apart from the down-sloping channel, bearish sentiment is implied by a breach and confirmation of the long-term moving average. During the next few days the rate is expected to test support at 7.7545/42, which could provide a temporary relief, while next week the Greenback is more
AUD/CHF broke out of the rising channel yesterday, but there are good reasons to believe the pair is simply taking a reprieve before resuming its journey north. The price is currently closing in on the apex of the high-quality symmetrical triangle, and the pattern implies continuation of the up-move that started at the beginning of this week. An additional argument
The fact that the Aussie trades in a broadening ascending wedge against the Singapore Dollar is notable, however, not that important for short term traders. What might interest traders more regarding the pair is the fact that it recently marked new this year high level, as the currency exchange rate touched the 1.0870 level on November 10. This provides an
The common European currency recently ended trading in a falling wedge against the Russian Ruble, as the wedge's lines closed in one on another and additional support was found. The addition support was provided by the October low level. In the aftermath of the encounter of the October low level the currency exchange rate began to rebound and broke through
GBP/CAD entered a ranging market following a slip from November highs at 1.7092. The pair has been approaching the bottom trend-line of the pattern in general, suggesting that the downtrend will be extended and the 1.6672 bottom boundary could be broken in the nearest hours. A slip will be contained between the broken line and the bottom Bollinger Band at
As markets switched risk off, the Canadian Dollar began its way south, appreciating against the safe haven currency inside a channel up pattern. Following two tests of the bottom trend-line, the pair is now approaching 0.7529/31 which it will need to conclusively break in order to extend the bullish market. The next target inside of the channel lies at 0.7542
The single European currency is trading in a descending channel pattern against the Canadian Dollar. However, the channel has a minor flaw in the form of huge volatility to the upside, which was caused by the US Election on November 9. In addition, the channel is approaching this year's low level of 1.4183, which is likely to provide support for
CHF/JPY was led by a strong uptrend whole November, but recently lost volatility and added a downside boundary to build up some bearish potential. The pair tapped 110.07 twice to confirm growing potential for a reversal, and is currently testing the bottom trend-line of the wedge at 109.82. It appears that the pair will execute another wave north, and we
NZD/CHF recently distanced itself from the bottom trend-line of the five-day rising wedge and established a trading range on the middle and upper part of the pattern. The top trend-line is strengthened by a Bollinger Band and should hold the pair below, leading to a downward breakout eventually. A reversal will require strong bearish potential, as the pair will face
The USD/SEK currency exchange rate is one of the many, which in the result of the US presidential election has formed an ascending channel pattern. However, the rate is simultaneously trading in two ascending channels, as the smaller channel is a representation of the pair's rebound against the larger channel's support line. Previous to the US election, the currency pair
The US Dollar is appreciating against the Norwegian Krona in an ascending channel pattern. The channel is the result of the rate breaking out from a descending triangle pattern to the upside. Most recently the currency exchange rate encountered resistance put up by a combination of the 23.60% Fibonacci retracement level at 8.5925 and the July high level of 8.6180.
After exiting the symmetrical triangle in September, USD/CHF kept the uptrend intact, adding an upper boundary to create a channel up pattern. The pair is currently testing the upper boundary at 1.0104, and we will look for a close of the day in the red zone. The pair will test 1.0026 and then 0.9932 on the wave down, with loads
After giving in to the 1.0758 resistance for the third consecutive time, AUD/NZD opened up a downtrend in October 13, and has just put more significance on it by adding the boundaries of a channel down pattern. Even though the latest movements sketch a ranging market, the pair is on its way to test the upper boundary of the newly-formed
EUR/CHF put an end to the downtrend with a double bottom formation at 1.0687. The pair had not attacked levels as low since the Brexit dip and August 2015 before that, meaning that it is highly likely that the neckline at 1.0753 will break. The rate will face the 1.0717/22 cluster of resistances, 1.0738 and then 1.0748 before the neckline
An ascending channel led NZD/JPY after the Election plunge and is now on the verge of breaking in favour of an extensinve surge. The pair has not conquered levels above 77.81, which it addressed before the Election, but has built up enough bullish potential for an outburst in the next wave north. A break above the resistance will likely call
CAD/JPY showed signs of an ascending channel, just before breaking the upside support and entering a rising wedge. The pair is currently testing the bottom trend-line at 81.500, and a close below would confirm a breakout marking the beginning of a downtrend. The pair has already exited the Andrew's Pitchfork and entered an Ichimoku cloud, which suggests that CAD/JPY will
EUR/GBP confirmed the downtrend with a break below the descending triangle that led a correction to build up bearish potential. The pair has not retraced yet, meaning that 0.8534/28 could cut the losses for now, and the 0.8582 area could be targeted short-term. However, due to the pair's hesitation on the retracement, we would not could on it, meaning that
The descending channel turned falling wedge confirmed the pattern with an upside breakout and a retracement from the violated trend-line. NZD/CAD is currently attacking the cloud resistance at 0.9516/0.9553 and is threatening to close inside, meaning a dedicated march through levels of significance might be on the way. The rate will test 0.9534/38 and 0.9544 if the intrusion is successful,
The Kiwi has been losing ground against the Loonie in a descending channel pattern. The New Zealand Dollar began to depreciate against the Canadian Dollar in the aftermath of the US presidential election. In the meantime, the currency exchange rate is in an ascending channel on a larger scale. In addition, the pair recently was affected by the Fibonacci retracement
The Canadian Dollar is simultaneously trading in three patterns against the Hong Kong Dollar. However, the situation is about to change, as the medium term falling wedge recently reached the long term descending channel's lower trend line and rebounded. In the following rebound the pair formed a rather week ascending channel, which is still set to challenge the descending wedge's