At the very end of September USD/HKD reached this year's high at 7.7702; however, it did not manage to consolidate at this level. Therefore, the pair started to fall in value and by doing that it also formed a double bottom pattern. Currently, the pair is moving towards the major level at 7.76, which is also complemented by the pattern's resistance
Unusually long channel up pattern was created by the USD/SEK currency cross, as the pair started moving upwards in May of this year. Therefore, since then it managed to cover more than 650 bars. Meanwhile, after last touch of the upper boundary, the pair is still deciding, in which direction to develop further. During last three weeks the Greenback hovered
The present downward-sloping channel on the Pound/Yen currency pair began forming in the beginning of this month. Just recently the British currency has commenced recovery from the lower trend-line, but it used to be short. At the moment the pair is approaching the southern boundary one more time. We assume that successful breach of daily S1 at 169.48 will push
The EUR/NZD currency cross is gradually filling free space inside the descending triangle pattern, while trading range is narrowing. It still has an opportunity to touch both trend-lines for a few times before eventual break-out.However, before approaching the horizontal lower boundary, the pair will have to cross the monthly pivot point at 1.6056, which can pose some problems for pair's
The Pound/Loonie currency pair may continue forming the rectangle pattern in the foreseeable future, as the Pound finally managed to approach the lower boundary of the pattern. Still, before touching this line the pair will have to test the major level at 1.79, which is reinforced by weekly S1 two pips lower. As expected by short-term technical indicators, the pair
After reaching the strongest level since July on 5th of September, the AUD/SGD cross started sliding in value. Moreover, the pair's decline led to a formation of broadening falling wedge pattern. Currently, the pair is appreciating towards the upper boundary of the pattern, after bouncing off the psychological level at 1.10. Additionally, this level has not been touched since May
On the last day of September EUR/GBP fell to as low as 0.7767, a level untouched since July 2012. However, since then the pair has managed to recover by forming a bullish channel. Yesterday, the pair approached the upper trend-line and the weekly R2 at 0.7933. Yet, the Euro was not ready to break the pattern to the upside, thus
Present currency pair has bounced from the upper trend-line in the middle of the previous week and is now confidently heading downwards. As expected, in the nearest future the Loonie will try to overcome the level of weekly S1 at 6.8831. If successful, then we can expect the CAD/HKD cross to decline down to the lower boundary of the falling
After reaching the lower boundary of the pattern, the pair decided to trade sideways instead of going upwards. At the same time, technical indicators on the Pound/Aussie pair are generally sending positive signals, especially on the short-term time-frame, meaning that long-awaited recovery is possible in the foreseeable future. However, at first the British currency will have to test the resistance,
After fluctuating between 0.88 and 0.84 most of 2013, the currency pair broke out of this trading range to the downside in September. Since then EUR/GBP has been distinctly bearish are there are still no signs of a reversal—the upper boundary of the channel, namely the 15-month down-trend (drawn through Aug 1 and Mar 18 peaks), remains intact. However, in
The CHF/SGD cross has been on a down-trend since the middle of March, when a multiple year high was set at 1.4553. However, more recently, the pair has formed a broadening falling wedge pattern. There are still more bearish sentiment towards the pair than bullish, even though the pair has been on a down-trend for the most of this year.
On 29th of October the pair approached the highest level since March at 1.6449; moreover, since then the pair has formed a 327-bar long descending triangle pattern. Currently, EUR/NZD is hovering slightly above the 1.61 mark, after touching the upper trend-line around 1.62. The pair is still rather far away from the triangle's apex, thus it is possible that the break-out
As expected, the Euro/Danish Krona currency cross will make a break-out from present pattern in the nearest future. During past couple of hours, the trading range decreased to minimum, while trading volume continues to fall down. Statistically, 64% of all break-outs from descending triangles happen to the south. Moreover, daily technical studies send bearish signals at the moment, meaning that
The EUR/SEK currency pair will be on the way to form triple top pattern on an hourly chart, if lower trend-line of current pattern is able to withstand bearish pressure. Just recently, it bounced back from second top at 9.1692 and is now heading down. However, on way to the south the single currency will face a number of very
At the second part of September AUD/NZD reached the lowest trading level since July at 1.0920. However, at these levels the pair received a bullish impetus that pushed the pair towards the 1.13 level, forming a double top pattern. Currently, the pair is hovering slightly above the pattern's neckline at 1.1121. Since this is a bearish pattern in the base scenario,
After a sharp decline on the 3rd of October, EUR/USD found a support at the major level at 1.25. Since then the pair has formed a broadening rising wedge pattern. At the moment, the currency pair is trading around the lower boundary of the pattern. If the lower trend-line will hold the pair's bears back then a repeated test of the
The channel up pattern was also created by the EUR/SGD currency pair; however, this pair's trading range between trend-lines and overall length of the pattern is smaller. In the morning of October 9 the Euro commenced a recovery from the lower boundary and managed to gain some value.At the same time, short-term technicals assume the Euro will stay at present
After bouncing from upper boundary of the channel up pattern, the pair was stopped by 55-hour SMA, then located at 1.4129. As a result, the single currency started gaining its value back and is currently trading just above the daily pivot point at 1.4165. Technical indicators support return to the upper trend-line in the nearest or medium-term future. Moreover, almost
The falling wedge pattern started to form at the beginning of September; although, the pair has been on a down-trend already since July, when the pair traded just a couple of pips from the 1.72 level. At the moment, the pair is hovering beneath the 1.62 mark; although, this level remains the short-term target. Nevertheless, the daily and weekly technical
After a correction at the beginning of October, the EUR/GBP cross found a support slightly above the 0.78 level. Since then the pair has formed a broadening rising wedge pattern and reached 0.79 mark. Recently, the major level at 0.79 was approached; however, since then the pair has declined. At the time, when the mark was touched, the Euro was not
The high-quality descending triangle pattern of the EUR/DKK currency pair is approaching the final stage of its development. As soon as in couple of upcoming hours the single currency will break one of the trend-lines. Technical studies assume bearish scenario for the currency cross on medium-term time-frame, while other ones are mostly neutral. Still, before commencing the break-out to the
Following successful bounce back from the upper-boundary of the channel down, the currency pair started trading sideways along the upper boundary, taking into account rather small slope of the trend-line. Still, the Canadian Dollar has a good potential to decline value, even though from the downside it is limited by considerable support level at 6.93 (weekly pivot point; major level
After reaching the highest level (10.8475) since the end of December 2011 on 8th of May , the EUR/HKD has been declining. However, since the end of August the pair has started to form a bearish channel. Since the pair already recently touched the lower boundary of the pattern it is expected that the down-trend's resistance at 9.8746 is the
After finding a support slightly below the 1.09 mark USD/CAD started to form a upward sloping pattern—rising wedge. Currently, the pair is hovering around the lower trend-line of the pattern below the 1.12 level. Nonetheless, at the current trading levels there is a cluster of support levels (100 and 200-period SMAs, daily PP and pattern's support). Also an overwhelming majority (72%)