The Australian currency has already been declining since the middle of November. However, this currency pair has only managed to form the present bearish channel during first days of December. On December 17 it has touched the lower boundary of the channel and since then it is gradually rising in value towards the upper trend-line. However, it can be seen
The pair is entering narrower trading range, as it is moving closer to the apex of the triangle formation that started at the very end of November. This might be the case, when we do not see a sharp break-out to end the pattern. As the majority of the technical indicators in all time frames are neutral. Also there is a
The 18-nation currency has dropped below the 1.23 mark against the Greenback once again, after the pair rebounded above 1.25 at the middle of December. Moreover, the decline has pushed the pair into a falling wedge pattern. Currently, the pair is challenging the monthly S2 at 1.2230, this level has not been breached since 2012. Nonetheless, with a help of the
Following testing of the upper boundary of present triangle pattern, the Euro started depreciating sharply, thus breaching a number of considerable support lines and the lower trend-line. The currency pair crossed 55, 100 and 200-period SMAs and the monthly PP at 1.5938 with a relative ease. The current trading level is located right between daily PP and daily S1, as
CHF/JPY pair has just approached the upper boundary of the bearish channel. Therefore, the next few hours are going to determine future development of Swiss franc versus Japanese yen. At the moment there are mixed signals on what is likely to happen. From one side, majority of market participants (74%) believe that the trend-line, which is reinforced by daily R2,
Since an encounter with the resistance at 1.7670 in the first quarter the sellers have been in full control of EUR/SGD, forcing the pair to descend to 1.60. But now the rate appears to be trapped between two critical levels, namely the 2014 low and Dec high.In a base case scenario, when the support is broken, the 2013 low at
The Australian Dollar has been outperformed by the Canadian peer already since early September. However, this broadening falling wedge pattern started to form, after a period of consolidation through October. The bearish pressure is not increasing anymore and with the low volatility the probability of continuous decline is getting smaller. Nonetheless, the 4H technical studies are still bearish, thus the
After reaching the monthly S1 at 181.60 on 16th of December the pair started to from a falling wedge pattern, as a bullish impetus was received near the level. The trading range is narrowing and thereby the possibility of a break-out is increasing. Although, the SWFX traders' sentiment is neutral for the time being with 52.42% of them having opened short
At the moment the USD/CAD currency cross is testing the lower boundary of the bullish channel, which was reached a couple of hours ago. Taking into account the present market conditions, the pair will most likely manage to bounce from this line and trade upwards in the medium-term. The closest support for the cross is provided by the 1.1525 level
The Australian currency has been in a decline phase versus the American dollar already for a long period of time, which led to formation of the bearish channel on an hourly chart in the beginning of November. In the meantime, the present pattern's low on the level of lower trend-line is located at 0.8108, from which the Aussie bounced to
The British currency similarly to most of the other currencies has outperformed the Aussie in the last weeks. Moreover, the pair started to form a bullish channel on 28th of November. Currently, the pair is underpinned by the monthly R2 and daily PP at 1.9102/45. That could potentially push the pair higher towards the weekly R2 at 1.9358. And even though
After a period of consolidation on October and November, the Aussie's strength started to fade, as the pair fell. While on 5th of December the currency pair started to form a broadening falling wedge pattern. The pair has reached the upper trend-line of the pattern that is above the 1.07 level. The technical indicators are mixed, as they are pointed in
The Pound/Kiwi cross started forming the present channel down pattern in the beginning of October, since then covering more than 230 candles. On December 9, the pair bounced from the upper trend-line and is getting ready to lose value in the foreseeable future. However, there is a tough demand zone ahead, which is located around 2.01 (monthly and weekly PP),
Despite successful bounce from the lower trend-line of the current pattern, the Swiss franc is still unable to gain enough bullish momentum to reach the upper boundary. The CHF/JPY pair has already been trading sideways around 121.50 for a third consecutive day. However, it should be noticed that at the moment this pair is limited by a considerable supply area
USD/CAD continues to be bullish, as it has been since this year's July. And that has led to a formation of yet another bullish pattern—channel up. At the moment, the pair is trading around the monthly R2 and weekly R1 and it is still on a strong up-trend. Moreover, the majority of the 4H and weekly technical studies are still bullish,
Even though NZD/USD has slow downed its decline, the pair is still falling gradually. It has not managed to surpass the 0.80 mark and that has pushed the pair into a falling wedge pattern. As mentioned the Kiwi Dollar is struggling to breach the 0.80 level and that has pushed the pair lower. Most likely the pair will not find the
Since the middle of November the New Zealand's currency is falling against American dollar. As a result, the pair managed to create a falling wedge pattern on the four-hour chart. Recently, the cross touched the pattern's resistance for two times, but it still seems that the overall intention of the Kiwi is biased in favour of a decline. On the
It seems that the US dollar is getting ready to decline further in its pair with the Japanese yen. After weeks of confident gains, the USD/JPY pair started losing ground on December 8 and formed a bearish channel during last two weeks. At the moment it is testing the lower boundary of the pattern and we expect it to be
Since late September the pair has been falling with lower highs and lower lows. That also has resulted into a formation of a bearish channel. The trading range of the pattern is rather wide and the GBP/NZD has been hovering around the upper trend-line for some time. Although, its not completely clear whether it is a sign of the bulls forming
The CAD/JPY reached the highest trading level this year at 106.54 on early December. However, the decline ever since then has pushed the pair into a broadening falling wedge pattern. Now the pair has slid to as low as the 100 mark, which is also represented by the monthly S1 and daily PP at 100.42/19. And it seems that the current
Despite the fact the Cable is currently testing strength of the upper boundary of the bearish channel, we do not expect it to succeed in the long-term to consolidate above this level. The pattern's resistance is reinforced by two major obstacles, represented by the monthly pivot point at 1.5755 and 200-period SMA just below it. They are strong enough to
After the AUD/CHF currency pair touched the upper boundary of the present, rather narrow falling wedge pattern, it is gradually losing value, hovering in the direction of the lower trend-line, which it is expected to be reached soon. Even though one-hour technical indicators are giving mixed signals at the moment, four-hour and daily ones are suggesting the pair will lose
The pair is consolidating around the 1.23/1.24 levels and that has pushed the pair into a triangle pattern. Currently, the apex of the triangle pattern has been reached and that could mean the end to the period of consolidation. To our mind the next move is to the downside, despite the fact that the short-term (4H) technical studies are pointing to
The Aussie continue to underperform relative to the US Dollar; however, after finding a support level around 0.82 it managed to form a descending triangle pattern. The pattern has already left the boundaries of the pattern; nonetheless, it still remains supported at the same level. Therefore, we think that the break-out is still to come and according to SWFX traders' opinion