When on 23rd of July the USD/SGD cross reached this year's low at 1.2366 the down-trend ended. Since then the pair has formed a 276-bar long bullish channel. At the moment, the pair is hovering around the uptrend's support line, that is located at 1.2763. It seems that USD/SGD is lacking a substantial support level that could keep the pattern in
At the first part of October, AUD/NZD failed to approach the 1.13 level. After many unsuccessful attempts to do so the pair started declining, thereby forming a falling wedge pattern. Currently, the currency pair is challenging the upper trend-line, thus increasing the possibility of a break-out to emerge. Moreover, the fact that the Aussie is holding above the 1.10 mark is
At the very end of September the currency pair broke the up-trend it has been forming since the first half of 2013 to the downside. Nevertheless, there are still good chances the bulls are going to remain in control, being that EUR/SEK seems to have bottomed out near the 200-day SMA and there is another major rising support line at
Canadian currency is nearing the upper trend-line of the pattern, meaning that the pair's development may experience some changes in the nearest future. Similar to EUR/AUD cross, the only barrier for CAD/HKD to reach this level is the 55-period SMA, located at 6.9192. Meanwhile, the upper boundary is supported by 100-period SMA and weekly pivot point around 6.9350-90. Technical studies
The currency pair is confidently approaching the lower boundary of the pattern. To reach this point, the single currency has to breach only the 55-hour SMA at 1.4587, while the boundary is located 35 pips lower. It, in turn, is reinforced by daily S1 support line and 100-hour SMA; therefore, the pair is not expected to cross this level with
The Euro/Yen currency cross has just crossed the lower trend-line is now expected to decline further. However, a fall through weekly S1 at 134.85 was not widely predicted by market, as the pair was constantly moving to the upside after bouncing from the lower boundary back on October 14. Since the important support line was violated, we can now expect
During last couple of hours, the USD/NOK currency pair has gained substantial value, as it managed to approach the upper boundary of the rising wedge pattern. At the same time, it happened after the pair was moving sideways for last 24 hours. Technical indicators send neutral signals on a short-term time-frame, meaning that the Greenback is supposed to make a pause
After a period of consolidation around the 0.94 level, that lasted from June to early September, AUD/USD started declining. Moreover, since the second part of September the pair has started to form a double bottom pattern. The pair has already reached the pattern's bottom twice, thus suggesting that it is ready for a rebound. Although, there still is a possibility of
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