This falling wedge pattern started to form already at the middle of September, when the Pound restarted its down-trend that initially started on July. Soon the pair will face the daily and weekly S1s at 1.5541/18 that could potentially halt the decline. However, if it fails to hold the pair's bears then most likely the 1.54 mark will be reached. This
The selling pressure that has dragged the pair considerably lower compared to a period few weeks ago has also helped to form a falling wedge pattern. The EUR/USD cross is hovering around the lower trend-line of the pattern; moreover, it has dipped below the 1.23 mark. To our mind the Euro is likely to extend its underperformance relative to the US
In the end of November, the EUR/CAD currency pair reached one of the highest monthly points at 1.4269 and started a period of consolidation. Since then it has already lost around 200 pips and is ready to decline even more. The next major support line for the bears is located at 1.3986, represented by the weekly and daily S1. This
The long-lasting appreciation of the US dollar against the Russian rouble led to formation of the wedge pattern on hourly chart, meaning that the trading range is narrowing all the time. At the moment the pair is still located around the lower trend-line, while getting ready to gain more value. If the pair decides to rise in the nearest future,
At the beginning of November the GBP/CAD cross almost reached the 1.83 mark; however, it failed to breach it and trailed lower; meanwhile, forming a bearish channel. Recently, the pair reached upper boundary of the pattern and it is still hovering near it, showing signs of bullishness. However, the strong resistance that is offered by the monthly PP and 200-period SMA
After a correction towards the 145.50 level, the pair regained its bullish momentum that had lost for a moment. The advance has also been outlined by a formation of 183-bar long broadening rising wedge pattern. At the moment, the Euro bulls have pushed the pair near the weekly R1 and upper trend-line of the pattern at 148.62/75. The 4H and daily
The Australian currency in its cross with Japanese yen has formed a rare and very qualitative triple bottom pattern, which began emerging on November 21. The pair is still trading inside its boundaries, but that next couple of hours are likely to determine the future development. The pattern will be considered as confirmed, in case it jumps above the trend-line
The USD/CAD currency pair has just reached the point inside the triangle pattern, where it should decide, in which direction to develop next. For the time being it is testing the lower trend-line of the figure, which is also strengthened by the weekly pivot point at 1.1363. It is possible that the break-out will happen to the south; however, we
The US Dollar continues to outperform its Canadian peer, as it has done already since July. However, the strong resistance around 1.15 level has pushed the pair into a bullish channel. We think that due to the US Dollar's strength the pair is not likely to fall below the 1.13 mark; therefore, we see much more upside for the pair. This
The AUD/USD has been on a down-trend for a longer time; however, just recently it has also formed a 115-bar long falling wedge pattern. Currently, the pair is fluctuating around the lower boundary of the pattern and the lower trend-line together with the daily S1 are holding the pair into the pattern's trading range. There is a high possibility of the
Opposite to the previous currency cross, here the American dollar is underperforming against the Hong Kong dollar. Moreover, the currency pair now approaching the lower boundary of the bearish pattern. In order to reach it, the Buck will have, at first, to test the strength of weekly S1 at 7.7522. If successful, the pair is likely to near the pattern's
On November 22, the USD/NOK currency pair began with a period of constant appreciation. As a result, the channel up pattern emerged on the hourly chart. On Monday, the Greenback went down to hit the pattern's support, which is currently located at 6.9857, and since then the pair is trying to gain value. At the same time, it seems that
The GBP/USD currency cross has been on a down-trend since July. Moreover, the pair has been pushed into a shorter-term pattern—broadening falling wedge. According to formation the Sterling will decline towards the 1.50 mark, even though the pair is already hovering at the lowest levels of the year. The daily and weekly technical studies are also distinctly bearish. The next target
On 21st of November USD/ZAR started to recover from recent down-trend and by doing that the pair has formed a broadening rising wedge pattern. Currently, the Greenback is moving closer to the pattern's resistance line at 11.1950. Meaning that the upper trend-line is likely to be challenged, also the hourly technical indicators are mostly bullish. However, the SWFX traders' do share
The shared currency began with its latest downward trend versus the Greenback during the second week of October. However, after reaching this year's low at 1.2358, the Euro stabilized, which led to formation of the double bottom pattern. The pair is currently capped by the long-term downtrend, which is strengthened both by 200-period SMA and weekly R1. Therefore, we expect
Despite the fact that the pair was not able to breach the pattern's support, it decided to trade around this level for a continuous period of time. At the moment the pair is trying to make the next attempt to bounce from the trend-line. Taking into account bullish technical indicators on a short-term time-frame, we assume the pair will succeed. However,
After being on a down-trend for more or less all year, the EUR/GBP seems to be found a support around the 0.78 mark. With a help of this support level a 247-bar long ascending triangle pattern has formed. Even though there are still plenty of bearishness, there are also some signs of a possible recovery. At the moment, the biggest challenge
AUD/CAD continue to trade inside a 405-bar long broadening falling wedge pattern that started to forma at the beginning of November. The pair has already lost around 400 pips since the beginning of the down-trend. Currently, the Aussie is heading towards the upper trend-line; however, it has to surpass the daily R1; weekly PP and 200-period SMA at 0.9677/89. If these
The Euro/Swedish Krona formed a high-quality and magnitude triangle pattern, which began emerging in the beginning of October. Since that time the pair was decreasing its trading range. At the moment we are waiting for the shared currency to commence a break-out in any direction. Even though the pattern's boundaries have already formally been crossed to the upside, the development
After reaching the low around 0.8760 on November 25, the NZD/CAD currency pair started gaining value and has already covered more than 200 pips to the upside. At the moment the Kiwi is trying to leave the pattern's support and begin moving in the direction of the upper trend-line. However, this task for the New Zealand's currency seems rather difficult,
US Dollar has been outperforming the Swiss currency for most of the second part of the year. However, starting from late October a period of consolidation began that resulted in a formation of triangle pattern. The USD/CHF cross is falling closer to the daily and monthly PP that remain a strong supports. We think that they will hold the par's bears
After finding a support at 1.7543, GBP/CAD received a bullish impetus that pushed the pair into a broadening rising wedge pattern. The pair's target already for some time is the major level at 1.80. Recently the Pound touched the upper trend-line that sent the pair lower. However, around the pattern's support line stands a cluster of supports (100 and 200-period SMA;
Having found the support at 1.06 six months ago, the US Dollar was able to start forming a bullish channel. Accordingly, the upward momentum should persist, with the main short-term resistance and support levels being at 1.1525 and 1.1225, respectively, as suggested by the trend-lines of the pattern.Meanwhile, neither the daily nor the monthly technical indicators agree on the direction
Opposite to the previous currency cross, the Euro has been appreciating against the Japanese yen since the third week of October. Therefore, this currency pair managed to form a high-quality and magnitude channel up pattern on a four-hour chart. At the moment the shared currency is testing the lower boundary of the pattern at 147.97. We assume that this action