USD/PLN has been in a distinct up-trend since July, and during this time the pair has formed a high-quality channel pattern. Accordingly, there is a high possibility the US Dollar will keep appreciating in the coming months. However, in order to confirm its long-term bullish intentions the currency has to overcome the immediate resistance at 3.39 represented by the 2013 high.
GBP/CAD has formed a 59-bar long falling wedge pattern, after reaching the highest level since early August at 1.8263 on 20th of October. Currently, the pair is testing the upper trend-line, which is also underpinned by the 100 and 200-period SMAs around 1.8040. The 4H and weekly technical indicators are pointing the same way as the trend is heading-to the downside.
Through September and October, the CHF/SGD cross has been on a sideways trend; thus it has not lagged that much. However, just recently the currency pair has formed a triangle pattern. In the next few hours the Swissy will reach the pattern's apex; therefore, this is a interesting pattern to watch. Now, the technical indicators expect the currency couple to continue
Since there is a formidable resistance at 0.7950 represented by a multi-month down-trend (drawn through August and October highs), the outlook for NZD/USD is bearish. Yet another significant supply area is implied by the 200-hour SMA at 0.7879. Therefore, NZD/USD is expected to negate the recent gains in the nearest future and re-visit this year's minimum at 0.77.In the meantime,
The Australian Dollar, despite the strength of it US counterpart, retains a bullish bias. Since mid-October the currency pair has been forming a well-defined upward channel, meaning the price of the Aussie is likely to increase in the coming days. Accordingly, the current target is the upper boundary of the formation at 0.89, where the resistance is reinforced by the daily
Even though the pattern (Falling Wedge) is rather short being 57-bars long, it offers a great quality and magnitude. The pattern started to form, after a failure to consolidate above the psychological level at 0.90. Clearly, the NZD/CAD cross is still on a bearish bias; however, we already saw a correction in early October, with the pair testing the 0.90 level.
After hitting the lowest level since August on 16th of October at 0.8319, CAD/CHF started reversing the recent losses. At the same time the pair was able to form a rising wedge pattern. The pair is reaching for the highest levels this year that were set at early October, when the Loonie approached 0.8639. The shorter term technical studies, namely
Triangle pattern, created by the Cable in the second week of October, was confirmed to the downside on October 29; however, the pair's decline stopped around the level of weekly S1 at 1.5996. If this support manages to hold the Pound at current levels for some time, the pair can start moving back in the direction of the pattern's boundary,
After touching the lower boundary at 3.2648 last time on October 15, the pair refused to grow immediately and decided to hover in the lower half of the channel between two trend-lines. Right now it is limited by a significant resistance line at 3.3613 (weekly and monthly R1). Technical indicators on the short-term time-frame suggest the US Dollar to start
The US Dollar has outperformed the Swedish currency for most of this year, as since March the pair has been on a more or less constant up-trend. During this period many patterns have formed; however, currently we are seeing a broadening rising wedge pattern. At the moment, USD/SEK has reached the highest trading level this year, also the highest level since
After reaching the highest level since March on 1st of October at 1.8686, the GBP/AUD cross started to decline. Moreover, recently the pair has formed a bearish channel. Currently, the Pound is appreciating towards the upper trend line, that is located at 1.8278, of the pattern. Despite the hourly technical studies being strongly bullish, we stick more to the longer term
The American currency has just breached the support of the pattern, meaning that the chance of pair's decline has significantly increased. During last two days the Dollar has lost around 100 pips and is predicted to fall further. The closest important support level is located at 1.1083 (weekly S3, monthly PP), and if is crossed, then the USD/CAD may potentially
The Kiwi has just bounced from the upper boundary of the pattern and is now getting ready to lose value against the Greenback. The present trading level is currently located at 0.8854, just 15-20 pips above the considerable support level, represented by 100-hour SMA and daily S1. If the pair manages to surpass this line, then we can expect it
The CHF/JPY cross reached the lowest level this year at 111.24 on 16th of October. However, from that point onwards the pair has managed to reverse at least some of the losses, meanwhile, forming a rising wedge pattern. For most of the time the currency pair has been hovering around the upper trend-line of the pattern, indicating on its bullish desires.
Lately, NZD/USD has been recovering from the decline that took place from July to October. However, more recently the currency pair has formed a 184-bar long bearish channel. The Kiwi has reached the upper boundary of the pattern, thus the strength the resistance line is tested. However, there still is a increased risk of a bullish break-out. One of the indicators
AUD/JPY has been in a distinct up-trend since Oct 16, when the currency pair stumbled upon a strong demand area at 91.80. As a result, there is an upward channel emerging on an hourly chart, meaning the overall outlook is bullish. But in the short term the Aussie is about to face some selling pressure, since it is approaching a cluster
GBP/CAD topped out at 1.8260 this month and now the pair is moving south. If none of the nearest supports manage to stop the decline, the pair will continue to form the bearish channel that is already more than 200 bars long. Since the Sterling is currently trading just below the upper boundary of the figure, the bias towards GBP/CAD
There is a great amount of bullish potential for USD/CAD if the support levels (100-bar SMA; daily S1) around 1.1225 holds, since the broadening rising wedge pattern has formed. The more reliable daily and weekly technical studies are bullish and that could help to keep the pair afloat. Moreover, an overwhelming majority (75%) of the market participants are long the
EUR/AUD reached a multiple month high at 1.4707 on 16th of October. However, the pair's bulls failed to push it higher, thus a decline followed. After a retreat below the 100 and 200-period SMAs the pair found a support and formed a descending triangle pattern. Currently, the Europe's shared currency is heading towards the pattern's support at 1.4368 and also nearing
After a distinctly bullish market (Aug 8-Oct 1) USD/JPY was undergoing a prolonged correction (Oct 6-15). But now, following a test of the support near 105, the currency pair is once again gaining upward momentum. The last two days the price has been flat, but another up-move should emerge once the US Dollar lands at 107.60. There it is going
The Australian Dollar appears to be a good candidate for a short position. Not only does the currency pair fluctuate in a bearish channel, at the moment it is also trading near the down-trend. Accordingly, AUD/CHF is expected to start moving away from the major resistance at 0.84.The immediate support is represented by the weekly pivot point, followed by a
Since XAU/USD approached 1,400 in March, the bears have been in control of the market—the price has declined beneath the 1,250 level. However, considering there has just been a successful test of the lower boundary of the emerging downward channel, in the near-term the gold should prove to be bullish. The rally is expected to reach 1,300 before making a
The Pound has been developing in a clear bearish trend after a touch of the upper trend-line at 1.6168, which used to be a strong resistance line for pair's bulls, as it is supported both by 200-period SMA and weekly R1 from above. It is worth pointing out that technical studies on all time-frames are sending aggregate signals to the
Even though the present currency pair has been hovering sideways for past couple of hours, it is constantly moving away from the upper boundary of the pattern. The present trading level is located just below a considerable resistance at 3.3415, represented by weekly R1 and 55-hour SMA, meaning that the pair's reversal is highly unlikely. Technical indicators on a short-term