A gradual decline started at the beginning of August and since then the pair has retreated to as low as 0.8617, which is this year's low. This down-trend has helped to form a 406-bar long triangle pattern. This has been a long-term pattern; however, now the pair is entering the triangle's apex. The break-out could be expected to either side;
The Euro/Norwegian krona currency pair is now checking the strength of lower boundary of the bullish channel, which is going to determine the pair's future development. If the testing is successful, then we can expect the single currency to decline down to monthly pivot point at 8.3613 in the long-term. In case of failure, the pair will be set for
After touching the lower trend-line on Thursday, the Euro started gaining value against the Swedish krona, but an upward trend was changed by a neutral movement, and the pair is trading parallel to the upper boundary. It means that the pair is going to have some issues in reaching this line due to the dense resistance area from above. Right
A sharp advance performed by AUD/JPY took the pair to a one and a half year high of 99.72; moreover, since the middle of October the pair embarked upon a formation of 106-bar long rising wedge pattern. Most likely the currency pair will not continue its bullish trend for much longer since the pattern's trading range is becoming very narrow. However,
After reaching the lowest level since March at 168.03, the Pound received a strong bullish impetus that has driven the pair to the highest level this year at 184.34. Meanwhile, the currency pair formed a 370-bar long broadening rising wedge pattern. Recently, the pair approached the upper boundary reaching the previously mentioned this year's high. However, now the pair is moving
After appreciating against the Singapore Dollar for nearly 20 months, the European currency encountered an impenetrable resistance at 1.77 in March. Since then the market has been bearish, resulting in formation of the downward channel.Right now EUR/SGD is trading near the upper trend-line of the pattern at 1.6170, meaning not only the long term, but also the short-term perspectives are
After nearing the lower boundary of the bullish channel, the US dollar began appreciating versus the Swedish currency. At the moment the pair is constantly approaching the upper trend-line at 7.4851. This level is reinforced by weekly R1 from below; therefore, an easy confirmation of the pattern is not likely to be the case. Keeping in mind mixed signals from
Following the labour market data in Canada, the local currency surged sharply and even was able to confirm the triangle pattern in its cross with the Japanese yen. Statistically, break-outs from such a pattern happen upwards in 70% of the time, meaning that the pair has a high chance to continue moving to the north. The next resistance is located
After finding a support near the 1.42 level, EUR/AUD started to reverse October's losses by forming a 97—bar long broadening rising wedge pattern. The Euro has managed to recover some of October's losses; although, to our mind it does not seem likely that the common currency will continue to advance for much longer. And there are a couple of reasons for
Through last two months the GBP/USD cross has traded in the boundaries from 1.59 to 1.63. Nonetheless, now the pair seems to be going for lower levels, as a falling wedge pattern has formed. The pattern's support line at 1.5823 is being challenged at the moment; however, it seems rather strong together with the monthly S1 at 1.5833. At the same
The US Dollar in its cross with Swedish krona is approaching the lower boundary of the bullish channel, which will determine the future development of the pair. If the pattern's support is breached, as suggested by medium-term technical studies, then the Greenback is going to fall down to weekly S1 at 7.2864 in the long-term. This level, in turn, may
The Australian currency has just bounced from the lower boundary to start trading in the northern direction. However, on the pair's way to the upper trend-line it is going to face a number of strong resistances, which are likely to prevent the easy case of reaching the pattern's resistance at 1.1260. In case of failure on any of them, the
Gold has been on a down-trend already since the 21st of October, following a period of bullish correction in the first part of the month. The decline has also helped to form a 189-bar long bearish channel. Yesterday the yellow metal reached the weekly and monthly S1 at 1,139.97/1,137.90, respectively. However, the metal was not ready to dip below this level
After a more or less flat trading through October, the USD/SGD cross gained momentum at the last days of the month. Moreover, the pair started to form a rising wedge pattern. Currently, the pair is hovering near the lower boundary of the pattern; therefore, for the continuation of the pattern the support levels will be critical. The driver that could push
The British currency has been constantly appreciating against the Australian Dollar since today's morning, while the exchange rate has already almost reached the pattern's resistance at 1.8578. As hourly technical indicators suggest that the bullish trend will persist, we can expect a confirmation of the pattern in the foreseeable future. If it happens, then the pair is likely to move
After hitting the lower trend-line of pattern, the Australian currency entered a period of consolidation, as it is now sharply declining against the Greenback since the beginning of the day. The pair has already lost around 145 pips to approach the pattern's support at 0.8583. However, this level is strengthened by daily S2 at 0.8601, meaning that the pair has
The USD/PLN cross has been on a uptrend since the beginning of July, after it was on period of consolidation for five straight months. Moreover, the current uptrend helped the pair to enter a broadening rising wedge pattern that is 79-bar long. Couple of days ago the pair reached the highest level since July 2012 at 3.4009. Since then the Greenback
An advance started at this year's low of 111.24 hit in the middle of October helped CHF/JPY to form a bullish channel that now is 90-bar long. However, just recently the pair has reached the highest level this year at 119.21, meaning that the Swissy needed less than a month to set both the highest and the lowest level this year.
Following a successful bounce from the lower boundary of the bearish channel, the single European currency started gaining strong value versus the British pound. It is worth pointing out that there no considerable resistance levels ahead, meaning that the cross is supposed to reach the upper trend-line with relative ease. This level at 0.7861, however, is reinforced by weekly pivot
The Kiwi has just confirmed the falling wedge pattern, as the currency pair breached the upper trend-line and is now poised for going further to the north. At the same time, the closest resistance line may pose significant problems for the cross, as it is strengthened both by weekly R1 and daily R3. Therefore, the pair's ability to overcome this
In general, USD/RUB continues to advance rather sharply, as it has done since early July. Recently, nothing has substantial changed; although, a rising wedge pattern has formed. Last week the pair dropped significantly, after touching the upper boundary of the pattern at 43.67. Since then the Greenback has regained its bullishness and now it is ready to challenge the upper trend-line
After a period of consolidation in the second part of the week the EUR/GBP cross prolonged its decline from October high at 0.8047. For the time being, the currency pair is trading around the 0.78 level that is near the upper trend-line. Moreover, the 1H and daily technical studies are pointing upwards, proclaiming that a bullish break-out could be the most
Even though the USD/SEK pair also formed the channel up pattern, it tends to look more like the broadening rising wedge, as the trading range is expanding. Nevertheless, the pair is approaching the turning point, represented by the upper boundary at 7.4822. The closest resistance is located just below the trend-line, therefore the pair is expected to reach this level
After bouncing back from the upper boundary of the bullish channel, the Canadian Dollar decided to trade horizontally rather than decline in the direction of the lower trend-line. As the trading range of the pair is gradually decreasing, the current pattern can be considered as the rising wedge. Therefore, the further contraction of the range can be widely expected. Even though