Aussie/Yen cross is testing the reliability of the supply cluster created by the 100-period SMA and weekly R1 at 85.57/69. Judging from the signals given by technical indicators on a four-hour time frame, we should see the Australian Dollar penetrating these levels in the next couple of hours. Moreover, 71% of SWFX market participants are now bullish on this currency
The EUR/TRY currency pair is estimated to keep its positive trend in the long run. However, at the moment the Euro is undergoing a correction period, which is likely to be finished by the time the pair reaches the pattern's lower trend-line at 3.36. There is a possibility that other supports will also be strong enough in order to reverse
EUR/USD has felt the lack of support since the market turmoil on Aug 24, after peaking at a multi-month high of 1.1716. Since then, the Euro has been mainly losing value and has already dropped by more than five figures. Moreover, we see the trend continuing in the foreseeable future. A tough supply zone at 1.1250 is expected to be
CAD/CHF is forming the rising wedge pattern, which implies a narrowing trading range over time. However, the apex of the pattern is located a long way away from the current market price, meaning that we are highly likely to see the confirmation of the pattern earlier than anticipated. The future outlook becomes more unpredictable as market sentiment is only marginally
A rare triple bottom pattern has been emerging in the four-hour chart for the EUR/SGD currency pair. The cross is still trading both below the upper trend-line and above any of the valleys. We may observe a bounce back from the pattern's horizontal resistance soon, which is placed just above the 1.60 mark. In this case the pair will start
The Cable in on the verge of breaching the upper edge of the bearish channel pattern. It has been testing the trend-line since September 8, and we expect the bullish market participants to finally push the Sterling upwards versus the American Dollar. Positive momentum should be provided by the weekly R1, daily S1 and 55-hour SMA on Thursday. In addition,
AUD/JPY is creating a classical double bottom pattern, where two valley peaks are located precisely at the same level of 82.12. At the moment the Australian Dollar is gaining strength versus the Japanese Yen, but the pair is projected meet a substantial resistance in the nearest future, which is composed of the monthly pivot point and 100-period SMA at 86.32/87.02.
The Sterling/Aussie pair is currently trading within a dense area of different technical levels, which seem to be building a reliable demand zone for this cross. At first, both weekly PP and daily S1 are defending the lower trend-line of the pattern, while the next support is provided by the upward-sloping 200-hour simple moving average. We expect the Pound to
There have already been two unsuccessful attempts of the Greenback to rebound from the lower edge of the rising wedge pattern, meaning that the risk of a failure is rising constantly. At the moment USD/CAD is testing the trend-line again, and we are sceptical about the ability to resume growing for a third time in two weeks. Bearish scenario is
After the Australian Dollar pierced through the upper boundary of the falling wedge pattern, the outlook has improved noticeably for its currency pair with the US Dollar. Moreover, a few hours ago the pair has also breached the 200-hour SMA at 0.7036. Forecasts are optimistic as AUD/USD is capable of setting a new this month's high soon, in case it
After touching the Aug high at 1,170 the bullion resumed its long term downward trend. However, bears were unable to send the price below 1,117 for two consecutive times on Aug 26 and Sep 4. As a result, the descending triangle pattern was formed. On the one hand, statistically 64% of similar patterns are confirmed to the south. On the
US Dollar is currently undergoing its sharpest correction within the time frame of the present pattern. Since the beginning of Sep 8 the cross has already lost around 100 pips, which is considered to be a lot, taking into account a narrow trading range between the pattern's two boundaries. However, we expect the Greenback to receive strong support from the
Apart from forming the double bottom pattern, the CHF/SGD cross has recently traded inside a triangle, where it breached the upper trend-line several days ago. It makes the bullish scenario even more likely for the current case as well. The pair will test the double bottom's upper boundary at 1.4752 soon, and we assume this line is highly likely to
The pair has recently violated the upper trend-line of a triangle pattern, therefore confirming this figure to the upside. Additional bullish impetus was also provided by the 55-hour SMA, currently at 2.1939, which is following GBP/AUD by inching higher. We expect the Sterling to continue appreciating in the next 24 hours, as suggested by 4H and daily indicators. Moreover, there
Australian Dollar is estimated to resume falling, as soon as bulls push the researched currency pair up to the pattern's upper trend-line, weekly pivot point and 100-hour SMA at 0.9270. This resistance area is highly unlikely to give up, and we project the cross to regain bearish momentum in the long run. This scenario is shared by technical indicators. In
The Yen has experienced a steep appreciation versus the majority of currencies, including the Sterling, since the middle of August. Therefore, GBP/JPY cross lost more than 14 figures in just three weeks. The channel down pattern is a direct consequence of this sharp downward development. Losses are likely to extend in the foreseeable future, as the pair is approaching the
The Euro has been broadly unchanged against the Pound since the last week of August. As a result of that, EUR/GBP managed to form a rectangle. Even though this pattern implies a confirmation to the downside, market signals are quite mixed at the moment. Among them, market sentiment is strongly negative with respect to this currency pair at the moment,
USD/CAD is nearing the upper edge of the bullish pattern, meaning that there are considerable risks of a correction, which may take place by the end of this year. However, before the pattern's resistance line, which is reinforced by the monthly R2, is tested the pair is required to overcome another supply, namely the monthly R1/Aug 24 high at 1.3345/58.
The common European currency has been under bearish pressure versus the Swedish Krona on both the short and long-term time frames. In the one-hour chart EUR/SEK is rebounding at the moment, but a recovery seems to be fragile, and the pair may resume falling in the nearest future. It is currently consolidating somewhat above the daily PP and 55-hour SMA
USD/JPY changed hands in the morning on September 3, when the currency pair registered its most recent peak at 120.71 and came under heavy selling pressure afterwards. It led to a penetration of a triangle's lower boundary, which was therefore confirmed by bears. At the moment the pair is trading near the Sep 1 low at 119.20, while technical studies
EUR/NOK has been broadly respecting two downward-sloping trend-lines since Wednesday of the previous week. However, the 19-nation currency is expected to bounce off the lower edge of the pattern soon, being reinforced by weekly S1 and daily S2 at 9.1457 and 9.1093, respectively. However, bulls are likely to face growth issues in the longer-term, as technical factors are still indicating
Following ECB meeting yesterday, the EUR/SEK was forced to confirm the bullish channel pattern, and even the powerful demand in face of weekly and monthly S1s was unable to stop the sell-off. However, at the moment the Euro seems to be consolidating around these levels of 9.38-39. On the bearish side, 4H and daily indicators are pointing strongly to the
After falling below the 200-hour SMA at 0.7315, the Euro is expected to depreciate even stronger versus the Sterling. However, within the boundaries of the double top pattern this currency pair will meet the lower trend-line soon, which may provide the necessary support for bulls. In addition, the lower edge is also reinforced by the daily S1 today, while daily
The shared currency is in a good position to advance against the Turkish Lira, as it has recently confirmed the upper trend-line of the descending triangle pattern. In order to extend rally, the price should cross two horizontal resistance levels at 3.3478 and 3.3621 respectively. Alternatively, the currency pair could bounce back to support level at 3.3398, while the further