AUD/CAD is stagnating near the 200-period SMA line at the moment. This simple moving average has already capped a decline of the Australian currency for two times on October 13 and October 16. In case the third attempt is unsuccessful, we will expect the currency pair to resuming growing. This particular idea is shared by daily technical indicators and 62%
The South African Rand has been depreciating against the American Dollar this week. We have already seen the USD/ZAR currency pair surging from 13.00 up to 13.42 since Monday. In case the consolidation above the upper trend-line takes place in the nearest future, the rally is likely to be extended up to 13.57 soon, namely the Oct 13 high. The
As it turned out, AUD/USD did not exit the triangle against the background of the RBA meeting minutes published yesterday. Still, the pair is at the very apex of the figure, meaning we should soon see a spike in the turbulence of the market. Because the pair formed the pattern after a rally, the base scenario is a bullish break-out
EUR/AUD is about to break out of the symmetrical triangle, which should lead to increased volatility in the near term. If the price jumps above the upper trend-line at 1.5650, we will expect an extension of the rally towards 1.5825, where the weekly R1 merges with the last week's high and 200-period SMA. Additional resistances are at 1.5929 (monthly PP)
The Aussie has been in a decline versus the Swiss Franc since the previous working week, when the sell-off began around the 0.71 level. Now AUD/CHF seems to be supported by the 200-period moving average, currently at 0.6903, which is reinforced by the 100-period SMA from above. A drop below both of them should resume the downward tendency of this
The most traded cross resumed rallying rapidly in the early morning on Tuesday, after spending some time near the lower trend-line of the bullish channel. The pattern is now implying a strong recovery in the direction of 1.1550 area, where weekly R2 coincides with the upper edge of the figure. On the way to the north, EUR/USD will face two
The price of gold has just dipped through the trend-line that had underpinned the rate since the beginning of Oct. Accordingly, we expect further depreciation of the metal. Bearish intentions of the bullion will be confirmed with a close beneath the 200-hour SMA, which is likely to be broken after a correction to 1,173, where the upper trend-line of the
We hold a strong negative bias towards USD/ZAR, as the currency pair has recently broken through the neck-line of the double top and formed a downward-sloping channel. The current rally is expected to stop developing at 13.3084 and give way for a new bearish wave. A close above this resistances will suggest a surge to 13.5721. However, the longer-term prospects
Even though technical indicators on all time frames are mixed and the majority (56%) of traders are holding short open positions at the moment, the upcoming testing of the monthly pivot point at 9.4062 is assumed to be successful. We expect this event to be supported by a recent penetration of the 200-period SMA and other important resistances around 9.34.
Inability of the US Dollar to appreciate above the weekly pivot point and downward-sloping 200-hour SMA is highly likely to result in a failure of this currency pair in the nearest future. USD/NOK has already struggled to gain value, when crossing both 55 and 100-hour SMAs earlier last week. A decline below 8.10 should trigger losses down to 8.0452 in
USD/ZAR has just broken through the neck-line of the double top (September low), meaning there is likely to be a strong sell-off during the next few weeks. The first major target is the monthly S2 and a strong support level that proved its topicality in summer. The subsequent objective should be 12.35, where the monthly S3 joins forces with the
USD/SGD appears to be trading within a bearish channel, which means we are likely to see the pair being rejected by the falling resistance trend-line at 1.3880. If this is the case, the first target will the Oct 15 low and the monthly S2. However, we expect a bigger correction to start lower, around 1.3640, but demand area at 1.3730/00
EUR/TRY proved to be unable to surpass resistance at 3.48 both in August and September, and now the currency pair is developing a bearish channel. Accordingly, we expect the down-trend at 3.3552 to limit near-term rallies, while the rate is expected to head towards 3.2117, where it should start an upward correction after hitting the weekly S2 and the lower
According to the latest price developments AUD/USD is more likely to start negating the Sep 29 - Oct 12 rally rather than to resume it. However, the four-hour and daily indicators remains bullish, and we look for a confirmation of the bearish outlook, which will be a close beneath the Oct 13 low (0.72). In this case the first major
USD/CHF has recently broken through the bearish channel we analysed on Tuesday and formed a new one. The currency pair has also confirmed a new resistance area circa 0.9550, where the upper trend-line of the new channel crosses the lower trend-line of the old channel. The outlook therefore is bearish both in the short and long terms. The bears might
Our bias towards the Euro-Kiwi pair is negative. The price has recently broken through the long-term moving average and formed a bearish channel. Additionally, the four-hour and daily indicators are predominantly giving 'sell' signals.In the very near term, however, there is a high probability of an upward correction, being that the spot is currently at the lower trend-line that forms
USD/NOK has formed a double bottom at the end of the Sep 28-Oct 12 sell-off, meaning the Dollar is now well-positioned to negate these losses. The pattern and the bullish outlook will be confirmed when the currency pair gains a solid foothold above 8.1970/8.1750, a dense supply area created by the Oct 13 high, monthly S1 and weekly PP.
AUD/JPY is currently undergoing an upward correction within a major down-trend that started at the end of 2014. This has led to formation of a bullish channel, which might not be of high quality right now, but still could give a sense when to expect changes in the shorter-term trends. We expect the sell-off from 88.60 to extend through the
GBP/NZD continues to trade within the boundaries of the bearish channel the pair formed a while ago. And still there are very few reasons for a reversal: July low, which represented one of the most important nearby supports has already been broken, and most of the technical indicators in all three relevant time-frames are mostly pointing south.In the short term,
In the lower time-frames (H1) going long in CHF/JPY might seem to be a good idea, but the H4 chart suggests a decline is more likely. The pair has just encountered an upper boundary of an emerging channel, which is also reinforced by the monthly R1 level. Accordingly, we expect a sell-off from here, especially considering the weekly technical studies.
Our bias towards AUD/CHF for today is strongly bullish, even though the technical indicators at the moment are mixed. The currency pair has just broken through the neck-line of the double bottom, and by the end of Thursday the price of the Australian Dollar is likely to increase by 70 pips, which is the distance between the neck-line and the
On the face of it the outlook should be bearish, as the currency pair trades within the boundaries of a downward-sloping channel, and the spot price is at the upper boundary of the pattern. However, this is misleading, since EUR/USD is currently facing a support trend-line that connects troughs since August. Consequently, there is a considerably higher chance of a
After a strong rally early this month the price got stuck at 16.10 dollars. However, there are plenty of positive signals for the bulls. First, formation of an ascending triangle indicates that demand is building up. Secondly, there are more ‘buy' signals than ‘sell' ones in the four-hour and daily time-frames. Additionally, we have a strong support area between 15.90
EUR/AUD continues to trade between two falling trend-lines we spotted last week. The pair has just bumped into the upper line, which is strengthened by the daily and weekly R1s, meaning the near-term bias is strongly to the downside. The immediate support is at 1.5678, but the bearish momentum is not expected to peter out before we get down to