The outlook on EUR/PLN is bullish both in the short and long terms. The currency pair is forming an ascending triangle, a continuation pattern, meaning a breach of the resistance level at 4.2650 is more likely that a decline through the rising support line at 4.22. Once 4.2650 is out of the way, the price will likely target the January
Considering the trend-lines AUD/SGD has been following recently and the fact that the currency pair breached the long-term moving average at the end of September implies a bullish outlook on the Aussie. The price is currently fluctuating near the lower edge of the pattern, which adds to the positive bias. Our base scenario is a rally from 1.0210 through the
Not so long ago NZD/CAD bounced off the 200-hour SMA and soon formed a bullish channel. Meanwhile, the technical indicators are giving ‘buy' signals, meaning the current outlook is bullish. The immediate resistance is at 0.8770, represented by the weekly R1, and once it is breached, the currency pair will likely target the August high at 0.8830. However, lately we
AUD/CAD has been rejected by 0.9585 recently, but the bias remains bullish. The current sell-off should be limited by the rising support line at 0.9520, which should trigger enough buying in order for the price to surpass 0.96 and touch the upper boundary of the forming channel once again. In the longer term the Aussie could be aiming for a
While in the short run the outlook for USD/CHF is bullish, the longer-term perspectives are bearish. During the next few days the pair is expected to reach the level of 0.97, where it should top out near a cluster of resistances, which includes monthly PP, 200-period SMA and also the upper boundary of the emerging channel. Once this upward correction
USD/SEK is currently trading within a well-established bearish channel. Accordingly, any rallies in the nearest future should be capped by the falling resistance line at 8.2050. If this is not the case, additional resistances are at 8.26 and 8.2950 represented by the Oct 9 high and 200-hour SMA, respectively. On the other hand, a dip through the August low at
The pattern might not be perfect, but it implies that a move above 1.0950 or below 1.09 will likely be notably accelerated. In case of a break-out to the upside we will expect the Euro to appreciate to the level of 1.1050 francs. Most of the four-hour and weekly technical indicators are in favour of such a scenario.Alternatively, should the
Although AUD/JPY is currently advancing north, it is doing so within the boundaries of a bearish channel. In the short run the outlook is positive. The price is expected to rise up to 92 yen as a result of an upward correction. This, however, should be the rally's upper limit, as the currency pair will hit a solid supply area,
AUD/JPY appears to be forming a bullish channel in the hourly chart. However, unlike the upper boundary of the pattern the lower line is weak so far, and an additional confirmation of the trend-line is required to establish a bullish outlook. Still, the technical indicators are mostly pointing upwards, which increases the chance of 87.50 withstanding the bearish pressure. If
Over the last three weeks GBP/NZD has formed a bearish channel. However, the prospects for the time being are uncertain, as the currency pair is approaching important support. July low at 2.27 may well turn out to be a floor for the Pound and trigger a long-term recovery. This will be confirmed by a breach of the upper boundary of
The most traded cross on the foreign exchange is forecasted to climb in value in the foreseeable future. The common European currency confirmed the triangle's upper boundary this week, and now gains are being extended above the 1.1350 level. On the other hand, significant downside risks are still in place. Initial bearish impetus can be created by the monthly R1
Despite a sustainable recovery that took place between Wednesday and Thursday, the Euro/Aussie cross failed to consolidate above the 1.57 mark. Moreover, even the weekly S1 and 55-hour SMA were unable to support the Euro, which led to a sell-off down to the 1.55 level by Friday afternoon. Closest demand to meet is represented by the weekly S2 and daily
In the weekly chart AUD/CHF is in a clear down-trend, but over the next few weeks the Aussie has a good opportunity to recover. It has recently formed a bullish channel, and the medium-term outlook is therefore bullish. However, as the currency pair has just bumped into the upper boundary of the pattern, in the short term the bears are
USD/DKK is currently approaching the apex of the symmetrical triangle, meaning we should brace ourselves for a substantial increase in volatility. Considering the position of the pair with respect to the major trend-lines, specifically in the daily chart, the chances are in favour of a sell-off. The bearish outlook will be confirmed as soon as the price falls under 6.60.
Despite attempts to recover, CHF/JPY remains capped by the 200-period SMA from the north. Technical indicators on daily and weekly time frames suggest the Swiss currency will fail at this important resistance line. Moreover, the similar view is shared by the majority (66%) of market participants at the moment. Nonetheless, bulls may rely on some support from the monthly pivot
EUR/SGD cross will most likely fall under considerable bearish pressure in the nearest future as the price has just approached the upper boundary of the channel down pattern. The pattern's edge is also strengthened by 100 and 200-hour moving average, which are not expected to let bulls succeed. Bearish scenario is projected by aggregate four-hour technical indicators at the moment,
The US Dollar continues to negate gains made in the second half of September. In the short run the value of the currency may rise, but the rally is expected to be capped by the upper boundary of the channel at 8.3017. However, if USD/NOK jumps higher, the 200-hour SMA at 8.3554 should become the next target. In the meantime,
The hourly chart of AUD/NZD suggests the pair is likely to keep moving lower. Apart from the descending triangle that implies growing selling pressure, the negative bias is strengthened by the technical indicators and the trend-lines. Even if the price escapes the boundaries of the pattern to the upside, potential gains should be limited by supply at 1.0920. Additional resistances
The lower boundary of the double top pattern has recently been breached by bears. Since then USD/TRY depreciated by around four figures to reach an important support zone at 2.9328, which is represented by the weekly S2 and monthly S1. 4H and daily technical indicators are unclear with respect to the pair's future, while traders are favouring a rebound of
It seems that the GBP/AUD currency pair is losing the chances of a rebound. The cross has been hovering near the lower trend-line of the bearish pattern since Tuesday morning and risks are skewed to the downside. Bearish scenario is shared by one-hour technical indicators at the moment. On the other hand, the majority of SWFX traders (56%) are holding
The Aussie is expected to weaken not only against the Euro, but also against the Yen. AUD/JPY has just bumped into a falling resistance trend-line, which should trigger a sell-off. This line is also the upper boundary of a symmetrical triangle, which indicates a high possibility of major trend continuation, in this case—a break-out to the downside, through support at
EUR/AUD appears to have formed a bullish channel, and there are plenty of other reasons why the currency pair is likely to rebound from 1.57. Apart from the fact that the price is now testing the rising support line, strong demand nearby is also implied by the monthly S1 and September low at 1.56. Moreover, most of the technical indicators
Since yesterday the Kiwi has been gradually losing value in its cross with the US Dollar. This development led to penetration of the weekly R1 and daily pivot point at 0.6509 and 0.6498, respectively. However, we expect this currency pair to resume growing soon, being that it is currently nearing the lower trend-line of the pattern at 0.6457. This level
A rebound of the Euro against the New Zealand Dollar from the pattern's lower edge has been successful so far. Crucial support was also provided by the weekly S1 at 1.7160. After crossing the daily pivot point a few hours ago, the next nearby supply is represented by the 55-hour SMA at 1.7332. This moving average is followed by another