The GBP/NZD currency pair is attempting a trend reversal, as shown by the double bottom at 1.7747, suggesting that the price could go up in the nearest future. The 1.8075 mark is where the price lies right now, hovering between the 100-period and 55-period SMAs. As volatility stays quite low in August, SMAs and Bollinger Bands are tightly clustered around
Following the symmetrical triangle pattern, the AUD/USD currency pair can be expected to continue its way south from the 0.7628 level where it has been testing the upper trend-line. If the trend does continue, the currency will overstep the bottom trend-line at 0.7591, followed by a dip towards daily S2 at 0.7567. The crossover of the 55-hour SMA and the
The Canadian Dollar is in an ascending channel pattern against the Hong Kong Dollar, and the currency exchange rate recently reached the patterns support line at 6.0000 for a second confirmation. The pair is set to surge and gradually move to the pattern's upper trend line at 6.1150. However, on the way to the pattern's ceiling the rate is set
The US Dollar is in a falling wedge pattern against the Turkish Lira, as the currency exchange rate reached this year's top level on July 21 and began to move southward afterwards. At the moment, the pair is near the pattern's resistance line at 2.9550, against which it has begun to bounce off. Further the rate will move to the
The hourly chart shows a symmetrical triangle pattern for the HKD/JPY currency pair. The pair has been bouncing between the trend-lines for nine days already, with a continuation of the downtrend on the horizon. The rate is also bound by a channel down in the daily chart, where it is making its way South with an upcoming crucial test of
AUD/NZD took a dip to show 1.0438, breaking the support level at 1.0439 which had not been touched since Jul 13, meanwhile continuing to move inside the bounds of a descending wedge pattern. The pair appears to be targeting the bottom trend-line once again and we expect it to fail at 1.0397, encountering intermediate support provided by the bottom Bollinger
Another surging pair within a channel up pattern is the EUR/HKD pair, as the common European currency is appreciating against the Hong Kong Dollar. At the moment, the currency exchange rate is fluctuating near the pattern's upper trend line, which it already confirmed recently at 8.8067. However, the pair found support in the combined support level of the weekly PP
The US Dollar is in an ascending channel pattern against the Singapore Dollar, as the currency pair is nearing the pattern's lower trend line, which is located at the moment at 1.3467. However, the price might have already rebounded, as the trend line is only a part of a larger support cluster, which is also made up from the monthly
Bound by an ascending channel pattern, the CHF/SGD currency pair has just bounced from the bottom trend-line, giving little reason to doubt a trend continuation. According to the pattern, the pair will once again rally towards the channel upper trend-line at 1.4061, however, this might not be the case, as, in addition, a symmetrical triangle that has been prevailing since
The EUR/AUD currency pair has formed a well developed ascending channel pattern on its way up to the 1.4914 resistance line which corresponds to the August 2 high. The currency can be expected to bounce off the lower channel trend-line, just to continue its path northwards. If the pair breaks the aforementioned resistance, it will encounter several intermediate levels, such
The Euro is in an ascending channel pattern against the Australian Dollar, as the currency exchange rate is on its way to the pattern's lower trend line. The pattern's support line is located at the moment at 1.4770, and it is supported by two additional support levels, as the weekly pivot point and the 100-hour SMAs are located respectively at
The Pound is in a broadening ascending Wedge pattern against the Japanese Yen, as the currency exchange rate is heading to the pattern's resistance line, which is located at 133.77. The pattern's upper trend line is also strengthened by the second weekly resistance level, which is located at 133.89. However, the currency rate has to pass the first weekly resistance
The EUR/USD currency pair has formed a well developed rectangle since the beginning of 2015, after taking serious dip in 2014. The pair has shown very strong resistance against the 1.1468 level which clusters with the upper Bollinger Band as well as a powerful support line at 1.0472. In the event of a continuation of the previous downward trend, the
The CAD/CHF currency pair's movements have been bound by a descending channel for 11 days already, implying that the strong trend might continue, and the price can further drop under the 0.7457 franc mark, which corresponds to August 9 and August 11 lows. Current fluctuations surround the daily PP and 20 period SMA cluster. The next support level to be
Hovering around the 20 period SMA and daily PP at 76.48, the AUD/JPY currency pair shows further southward potential, implied by the channel down it has been developing over the last week. The pair has broken the resistance line at 76.59, where August 2 lows lie, and there is reason to believe that the lower Bollinger Band at 76.29 might
The USD/RUB currency pair sends signals of potential upward movements by overstepping the top trend line of the falling wedge pattern which it has been following for 16 days already. The upward scenario is also supported by the proximity to the bottom Bollinger band the pair has showed over the last two weeks. It is likely that the currency will
The Pound is in a rising wedge pattern against the Australian Dollar, as the currency exchange rate has for the third time reached the pattern's upper trend line at 1.7250. In accordance with the pattern, it is set to bounce off the pattern's resistance and move lower. However, SWFX traders are bullish on the pair, as 55% of open positions
Hitting highest levels since June 22 at 51.12 dollars per barrel, Brent Oil is likely to maintain its route northwards over the following trading sessions, as implied by the well developed upward channel pattern that has bound the commodity's movements for over a week now. Brent will test the daily R1 at $51.49 on its way to the channel's upper
The presently emerging pattern itself does not mean a lot for the overall trend, but the fact that the currency pair has just broken a 12-week resistance trend-line does. The British currency is thus looking fairly strong, and this is confirmed by the hourly and four-hour technical indicators, although the daily studies are mostly bearish. All in all, during the
The Cable is well-positioned to advance. Having found a solid support area circa 1.2860/50, the currency pair was able to gain considerable ground, and it looks ready to extend the recovery by 1.2%more. The immediate obstacle is at 1.3170, and if the bulls manage to push the price above this resistance, the new target will be the July trend-line that
The Greenback is losing strength against the Japanese Yen, as the currency exchange rate has formed a falling wedge pattern. The pair was set to move to the pattern's lower trend line, when it bounced off the pattern's resistance line at 100.98. However, the rate fell to 99.78 level, where the weekly S2 is located at, and rebounded against the
The US Dollar is depreciating against the Canadian Dollar in a broadening descending wedge, as the currency exchange rate bounced off the pattern's upper trend line at 1.2904 on August 17. Since then the currency pair has been falling in accordance with the pattern, breaking through the weekly and monthly first support levels respectively at 1.2855 and 1.2832. In its
There is a near perfect bullish setup in the four-hour chart of USD/TRY. In addition to the falling wedge, the pair is currently testing a multi-year rising support line. Accordingly, our base scenario is a strong rally from 2.91 and potentially to the July high at 3.10. The first important intermediate resistance in this case will be near 2.97, where
The Euro is in a good position to advance against the Krona. In addition to the bullish outlook implied by the emerging ascending channel, most of the technical indicators are pointing north. Even more importantly, the pair has just rebounded from the lower bound of the bullish channel forming in the daily chart. Our near-term target is thus the August