The Euro has been underperforming the Polish Zloty since the beginning of this year, and the currency is likely to lose even more value in the future. EUR/PLN has formed a bearish channel, and it is thus expected to update March low while staying beneath the down-trend currently at 4.1220. Additional demand is seen near 4.1057, where the daily S1
Despite also trading inside the bearish channel since February 20, the EUR/SGD currency pair has a slightly different situation in its development stage. The single European currency has just bounced off the lower trend-line of the pattern and is now trying to build up bullish momentum in order to gain value in the foreseeable future. On the other hand, both
The general trend of the GBP/JPY currency pair is likely to remain bearish in the long-term; however, there are some signs the British Pound will attempt to breach the upper trend-line of the pattern. At first, the pair has just recently successfully approached the pattern's resistance, while only making a short stop at the daily pivot point around 182.20. Moreover,
While in the long run the British Pound appears to be in a better position than the Australian Dollar, in the coming weeks the Aussie is likely to outperform the Sterling. GBP/AUD has recently come into contact with the resistance trend-line at 1.9850, and the price is now expected to undergo a bearish correction, which implies a sell-off down to
Underperformance of the Euro against the Australian Dollar has led to emergence of a bearish channel on the EUR/AUD chart. However, right now the currency pair is poised for an upward correction, being that it has just encountered the support trend-line at 1.40, reinforced by some of the January lows. Nevertheless, the rally is likely to be shallow and start
Since the beginning of March the Sterling has been trending downward relative to the Yen, and as long as the upper boundary of the channel is intact, the outlook will remain bearish. The current bullish correction should end near 182.50, from where GBP/JPY is expected to launch an attack on a dense demand area at 181.50, which proved its importance
Considering weakness of the Euro this week all across the board, the single currency has been losing value against the majority of its counterparts. EUR/CAD was not an exception as the pair confirmed the triangle pattern it was forming since the middle of December. A successful fall below 1.4150 (monthly and weekly PP) provoked bears on even stronger sell-offs. As
After the extremely turbulent month of December for the Russian Rouble, volatility has declined significantly, while this currency started gaining value against the US Dollar. At the same time, trading range has been decreasing in course of February, meaning that it was the time for falling wedge pattern to emerge on a 1H chart. The long-term outlook for this cross
Despite a failure of USD/SEK at 8.50 in February, the overall outlook remains positive. The currency pair is currently forming a falling wedge, meaning in the end demand is expected to exceed supply. Once the pattern is broken to the upside, the US Dollar will be set to appreciate and re-challenge the Feb high at 8.5576.However, this scenario may well
Though the market is bullish (GBP/AUD is in a distinct up-trend since Sep 2014), there is potential for a current decline to extend down to the six-month support line at 1.88 before the bulls regain control of the currency pair. In the near term, however, there is likely to be a short-lived rally. The Pound is currently facing strong demand
The GBP/AUD currency pair has also been trading upwards, while a bullish tendency here has been in place since the middle of November. Despite that, at the moment the Sterling is undergoing a period of correction against the Australian Dollar. The pair has bounced back from the upper trend-line on February 12 and is now trading downwards. It has recently
Since the very end of February the Dollar/Franc has been following two upward-sloping trend-lines, even though for several times they were violated for short time periods. Still, a distinct bullish trend is clearly visible. Moreover, these are some signals that the Greenback will continue gaining ground against the Swiss Franc. At first, one-hour technical indicators are pointing to the north,
Considering that since the beginning of February AUD/SGD has been forming a rising wedge, there is an increased probability of a significant sell-off. At the moment the key support is at 1.0637, where the 200-period SMA merges with the one-month up-trend and the weekly PP. If this level is breached, the Aussie may fall as low as the Feb minimum
As a result of Euro's failure to overcome resistance at 1.4330, the bears took control of EUR/CAD and pushed the price down to 1.3722. From here we can see a rebound, being that this is the current level of the lower boundary of the bearish channel the pair has been trading within since late February. However, the potential rally is
Latest on Friday of this week the AUD/NZD currency pair is estimated to make break-out from the descending triangle pattern, inside which it has been trading since the beginning of November. At the moment there are mixed signs concerning the future development of this cross, but we tend to stay bearish on the Aussie versus the Kiwi. Firstly, technical studies
Despite approaching the upper boundary of the current triangle pattern, the US Dollar is unlikely to breach it with ease. As first, there is a number of strong resistance levels that will try to stop bulls from pushing the American currency higher. They include the weekly pivot point at 1.2523, as well as simple moving averages on different time-frames (55,
As resistance at 9.63 proved to be impenetrable, EUR/SEK had no other choice but to decline. The pair has already fallen beneath the Jan low and it is set to extend the losses, as implied by the technical indicators and resistance trend-line, currently at 9.28. Once support at 9.25, represented by the weekly S1, is out of the way, the
There are good reasons to be long USD/PLN right now, as the currency pair has just broken out of the triangle to the upside and then formed a bullish channel. Still, there are considerable downside risks in the short run. First, the rate is currently oscillating next to the resistance trend-line. Second, there is supposed to be strong supply at
Since the third week of January the yellow metal has been losing its value by trading inside the bearish channel. However, a recent support was found about ten US Dollars below the major mark of 1,200. This level managed to provide XAU/USD cross with bullish momentum. As a result, it is currently approaching the pattern's resistance which is reinforced by
Despite rather strong negative market sentiment among traders on perspectives of the AUD/SGD currency pair (62.5% of opened positions are bearish), there are several signs the Australian currency is going to outperform the Singaporean one. At first, right now the pair is receiving a major support from the cluster of demand levels around 1.0640. Besides that, the medium-term goal of
Soon after a removal of the peg and precipitous rally of the Franc, the currency started to lose value. However, demand for the Loonie, as evidenced by formation of the wedge, appears to be weakening at the moment. Consequently, the possibility of a reversal is increasing. Should the support line be violated, one of the first targets will be a
The market is bearish since the beginning of November 2014, when AUD/NZD once again confirmed resistance at 1.13 after several unsuccessful attempts to breach it. Right now the currency pair is struggling to break support at 1.03, but the risks are skewed to the downside, and the Aussie is expected to keep descending until it reaches the lower boundary of
While on a longer-term time-frame the Pound/Aussie cross has been developing inside the bullish channel, since mid-February the pair is losing value. Moreover, the bearish tendency is expected to continue in the medium term, at least until the moment the pair touches 1.93 level (monthly S1; 200-period SMA). In the short-term, however, the Sterling may rebound toward weekly R1 at
After a sharp drop of the Euro against the Norwegian Krona two weeks ago, the currency pair formed a rare triple bottom pattern. A development, in turn, followed a period of strong fluctuations of the cross since February 18. This pattern is expected to be confirmed, when the pair crosses the highest peak between the valleys, while at the moment