Although last week there were risks of GBP/CAD breaking out of the channel after forming a double bottom, resistance at 1.85 did not let the Sterling to change the outlook on GBP/CAD and remained intact. Accordingly, we expect the rate to bounce off of the upper trend-line of the channel and then drop by some six figures during the next
The Euro has been strongly bullish since it bottomed out in April near 1.1220, and the chances are the single currency will keep moving higher. EUR/USD is trading next to the lower boundary of the emerging channel at the moment, which implies a rally from the current levels towards 1.16, where the rate is expected to meet the upper boundary
Gold is extending its winning streak, after it successfully confirmed a triangle. Considering the nature of this pattern, the bullion is now expected to continue building ground amid weaker US Dollar. The most immediate resistance is the 2015 peak at 1,307.06, while the next one is placed at about 1,318 (weekly R1). It is shortly followed by the monthly R1
This currency pair keeps treading water inside the area of multiple moving average lines that are joined by the weekly and monthly pivot points between 1.8306 and 1.8365. As soon as GBP/CAD escapes this zone, the Sterling will be in a good position for growth against the Canadian Dollar, with the ultimate bullish target placed at 1.8564. There the pair
AUD/NZD is well-positioned for a rally. For one, the currency pair has just breached a major five-year resistance trend-line. As if this were not enough, there is an ascending triangle emerging in the weekly chart, a pattern that indicates growing demand. Additionally, there are more technical indicators that are giving ‘buy' signals than there are studies that are bearish. Accordingly,
AUD/USD is well-positioned for a rally. Late last year the currency pair broke through a major falling resistance trend-line and then confirmed it in January, which implies a long-term bullish outlook. As for the shorter-term perspective, the rate is currently fluctuating right at the lower boundary of the emerging ascending channel, meaning there should soon be a rebound from 0.76.
EUR/CHF topped out near 1.1020 after April recovery, and now the exchange rate is forming a bearish channel. At the moment, the Euro is approaching the upper boundary of the emerging pattern, and we expect the price to bounce off of 1.1005 in the nearest future. The closest significant support is at 1.0985/79, formed by the weekly pivot point and