After USD/CAD topped out at 1.3457 the pair has been in a strong down-trend, but there are few ‘sell' signals at the moment, and the trend may not continue much further. The technical indicators are mixed, and the price itself is closing in on the solid support at 1.30, represented by the lower boundary of the bearish pattern and also
The channel was formed after the currency pair broke out of the rising wedge to the downside. However, we should not be deceived by the bearish outlook implied by the currently emerging pattern. This situation highlights the importance of analysis of the higher time frames. In this example, in the daily chart EUR/NOK approaches a major up-trend, which is more
Recovery of the single European currency versus the Singapore Dollar was halted by the pattern's upper edge around 1.6240, which led to emergence of another down-leg. The pair is testing the 200-hour SMA at the moment, a violation of which would expose the daily S1 at 1.5960, followed by the pattern's lower boundary just above 1.59. Supported by the weekly
A rare triple bottom pattern has been emerging in the four-hour chart for the AUD/JPY currency pair. As the cross is nearing the 200-period SMA, we expect the future development to be determined quite soon. In case there is a consolidation above this moving average and weekly R1 at 85.44, we should observe additional advance in value up to 87.43.
There is a plethora of signs that USD/PLN is soon going to resume from Jul-14 to Mar-15 recovery. First, the symmetrical triangle suggest a continuation of the previous trend, which in this case was a bullish one. Secondly, the currency pair is trading above the 200-day SMA, and it has recently confirmed topicality of this study for the market. Thirdly,
EUR/PLN is approaching the August peak, which is expected to be a turning point for the currency pair's two-week recovery. A dip beneath 4.25 (up-trend and weekly PP) will confirm a bearish break-out, and there are unlikely to be any significant rallies before the price hits 4.2350, where the 200-hour SMA coincides with the weekly S1. In the long run,
The short-term outlook is bearish, as the pair has just bounced off the resistance trend-line. Additionally, the one-hour and four-hour technical indicators are mostly pointing south. Still, after the price touches 2.3357 there is likely to be a recovery with a subsequent upward break-out, as GBP/NZD is closing in on the apex of the falling wedge, namely a bullish pattern.
The Kiwi has been correcting lower since the middle of Thursday. The US disappointing NFP report added bullish impetus to the New Zealand Dollar, but a recovery may not be long-lasting. In the nearest future NZD/USD must violate the 55-hour SMA, in order to confirm bearish expectations for the next couple of days. While bears are aiming at the lower
While last week it was clear that the Sterling is losing value against the US currency, this week is marked by a much softer pace of the decline. Support is being created by the major level of 1.51, which is only going to be strengthened by the monthly S1 at 1.4939, followed by the pattern's lower edge some 30 pips
The single currency has a good opportunity to outperform the Swiss Franc. From below EUR/CHF is underpinned by the rising trend-line and the long-term moving average. And while the near-term technicals are mixed, the weekly studies are confidently pointing north. If the rally is the case, the first major challenge will be expected only at 1.1050, represented by the September
While in the short run the Sterling is likely to be bullish, in the longer-term perspectives are considered to be bearish. GBP/CAD is currently trading at the lower boundary of the emerging channel, which implies a high chance of an upward correction. The immediate resistance is at 2.01 (weekly S1 and daily PP), but the price is expected to recover
This currency pair has just met a considerable resistance, which is represented by the pattern's upper boundary at 85. At the moment it seems that the trend is reversing back to the south, meaning that both weekly pivot point and daily R1 at 84.73 failed to provide the Aussie with enough bullish impetus. The closest demand to meet is located
USD/TRY failed to cross the 3.0760 mark for two consecutive times in the past two weeks, which resulted in the double top pattern emerging in the four-hour chart. The price is currently approaching the new monthly pivot point at 3.0049, which seems to act as a very strong psychological support. Moreover, both 55 and 100-period moving averages have just crossed
Although right now the Aussie is following a bullish trend, the rally's prospects are not bright. The reason is the falling resistance trend-line that connects August and September highs. Consequently, the base scenario is a failure at 0.9440 and a subsequent sell-off beyond the lower boundary of the bullish channel. In case AUD/CAD closes above 0.9440 against all odds, the
EUR/SGD is currently undergoing a downward correction within a bullish channel. However, the pair might not reach the lower boundary of the pattern before it rebounds. The Euro is now facing a tough support level at 1.59, created by the 200-period SMA and the rising trend-line that stretches back to the mid-July. Accordingly, there is a high chance of a
After USD/PLN had established a long-term bullish trend by breaking through the 200-hour SMA, the currency pair started forming an upward-sloping channel. The near-term outlook however, is bearish, being that the price is closing in on the upper edge of the pattern. The rate is expected to turn around near 3.8063 and begin a correction, which should be limited by
AUD/CHF is currently approaching a key resistance area circa 0.69, created by the monthly PP, long-term SMA and eight-week down-trend. A test of this supply zone may determine whether the currency pair will keep trading between two parallel rising trend-lines or will it break the up-trend at 0.6779, which will be a strong ‘sell' signal. The latter case is supported
At the moment AUD/JPY is recovering from 82.80 and is thus approaching a key resistance area. The level of 85 yen is the neckline of the double bottom pattern, and if the pair manages to gain a foothold above it, the rally will likely extend up to 87.50, namely to the September high. At the same time, a failure to
While the short-term bias is bearish, as the pair is expected to bounce off of resistance at 1.5150, according to graphical analysis and technical indicators the Euro is likely to outperform the Loonie in the longer-term perspective. However, a rebound may start not at 1.48, where we have the lower boundary of the recently established pattern, but a little sooner,
In the past four months the CHF/SGD currency pair has been steadily moving upwards, therefore creating a bullish channel pattern. In the foreseeable future, namely in course of October, the Swiss Franc is estimated to commence a recovery and start moving away from the pattern's lower edge. Most important resistances are located at 1.4740, 1.4907 and 1.5052 as all of
After reaching the daily S1 at 0.6303 today, bulls decided to stop a decline of the New Zealand Dollar versus its American peer. As a result of that, in the past several hours the cross regained around 60 pips to trade around 0.6355 at the moment of writing. The next closest resistance is represented by the daily R1 and pattern's
EUR/JPY is well-positioned for a decline. Right now the currency pair is fluctuating next to the upper boundary of the potential bearish channel. The resistance at 134.70 is also reinforced by the weekly pivot point and 200-hour SMA. Another reason to be bearish is the technical studies that are pointing south in the four-hour and daily timeframes. In a bearish
EUR/PLN has recently broken out of the bearish channel we observed earlier in the four-hour chart. Accordingly, the outlook is now bullish, which is also confirmed by the currency pair forming an upward-sloping channel. In the short run, the dips are to be limited by the support trend-line at 4.2288, while the current upper boundary is at 4.2620. In the
After bouncing back from the upper edge of the bearish pattern, the Sterling was unable to extend losses significantly beyond the 183 level. As a result of that, GBP/JPY is still hovering in the upper part of the channel. The main scenario implies a consolidation below the 55-hour SMA in the nearest future. This event may trigger additional losses down