Since CHF/JPY failed to breach the major level at 117, level unseen since March, it has been on a down-trend; moreover, it formed bearish channel.However, in the last trading sessions the currency pair is trading near the upper trend-line. For now the resistance levels seem strong enough to hold the pair below the 115 mark. The SWFX market participants are
Opposite to the previously-discussed currency cross, the Dollar/Zloty pair is trading upwards since middle of the previous week. Just recently the U.S. currency approached lower-boundary of the pattern, meaning that a successful bounce from it may push the pair to trade higher. However, in case of breach of this line, we can predict the currency pair to drop at least
Since the very last report on the Aussie/Loonie, this currency pair decided to develop further in the upper half of the channel between two downward-sloping boundaries. Right now it is trading at 0.9741 (daily S1), but we expect the Australian currency to start depreciating soon, as there are several significant resistance levels to limit the increase of it. Technical indicators support such course of events, as all of them are negative on this
The USD/ZAR currency pair found a relatively strong support around 10.600 that pushed to pair higher. With this advance a bullish channel was formed. For couple of weeks the pair has been challenging the upper boundary of the pattern. However, it has not been able to break above the trend-line for now. Nonetheless, a majority (67.15%) of the SWFX traders expect
After falling below the 136 level for the second time this year EUR/JPY received a bullish impetus and started to form a rising broadening wedge pattern. Currently, the pair is hovering near the lower trend-line, thus a bearish break-out could be more actual. Moreover, for rising wedge pattern a break-out to the downside is more common. However, technical studies are neutral,
The Euro has been in a clear down-trend since the end of the first quarter. But from a long-term perspective this sell-off turns out to be a bearish correction following a major bullish wave that started at 1.1230 in the second half of 2012. Nevertheless, as long as the common currency trades below 1.44 (monthly PP, Sep high and seven-month down-trend),
Following an unsuccessful attempt of AUD/CHF to rally through the resistance at 0.8750, the currency pair entered a distinct down-trend. The price should thus continue to descend, while being capped by the falling resistance line at 0.8378, which is reinforced by the 200-hour SMA and daily R1 level. And while the nearest supports are at 0.83 (daily S1 and Sep
Soon after the bullion failed to rally above 1,345.44 this July, the bears took control of the market and forced the exchange rate to decline almost to 1,200. And even though the daily and weekly technical indicators imply further depreciation of the metal, there are signals the sell-off may soon give way for a recovery, such as an emergence of
The pair has been on a up-trend already since March, when it dipped below 6.40 level. However, more recently at the beginning of August USD/SEK started to form a rising wedge pattern. Lately, the pair has been hovering around the upper boundary of the pattern, thus putting a pressure on it. Moreover, since the currency pair is starting to enter
EUR/AUD found a reliable support at 1.38 that pushed the pair higher, after the Europe's shared currency plummeted at the beginning of September. In the later part of the up-trend the pair started to form a bullish channel. At the moment, the pair is strengthening towards the upper trend-line of the pattern around 1.46 mark. Since this is a reversal pattern
The Euro/Swedish krona cross decided to move horizontally along with EUR/CAD currency pair. It has recently touched the lower trend-line of the channel up and is assumed to gain value in the longer-term, as suggested by weekly technicals. At the same time, the present lack of bullish strength can be explained by strong negative market sentiment, as more than 72%
During last several hours, the Euro/Loonie currency pair has been trading sideways inside the bearish channel pattern. The pair recently bounced from the upper boundary, and its general trend supposed to be negative for the time being. We assume the single currency to resume depreciating after a short pause, as technical indicators on a short-term time-frame are pointing to the south. Moreover, they are also supported by daily studies. Market participants are holding
After reaching the highest level in more than a year of 98.69, the pair's bulls gave up and a falling wedge pattern started to form. Currently, AUD/JPY is challenging the pattern's lower boundary, where the monthly PP (96.14) is located. Although, the technical indicators and SWFX market participants are largely neutral on the pair we expect that the pattern's support
After a failure to consolidate above the 0.80 mark the EUR/GBP currency pair started to form a bearish channel on 12th of September.At the moment, the pair is trading near the upper trend-line of the pattern, putting a pressure on monthly S2 and weekly PP at 0.7827/30. Nonetheless, a distinct majority of the technical studies are to the downside, thus
Opposite to USD/NOK pair, the Euro/Turkish Lira currency cross formed the double top pattern and is moving in the direction of lower trend-line at the moment. On its way down the pair will have to cross a strong support level in face of monthly pivot point at 2.8678. If the single currency is able to reach lower boundary of the
The current trading level of USD/NOK currency pair has approached the pattern's resistance line, meaning that behaviour around this level may determine future development of the pair. If it manages to cross the trend-line at 6.3732, which is reinforced by 200-hour SMA a bit lower, we can wait for beginning of a considerable bullish move. Otherwise, the pair is likely
For most of the time this year, the USD/ZAR currency pair has been trading in the range from 10.50 to 11.00; although, in the very end of August the pair received a bullish impetus and formed a rising wedge pattern. Since the formation of the pattern the pair's bulls have managed to breach the major level at 11.00. However, as the
The NZD/CAD cross has been on a down-trend since the middle of July, when the pair failed to reach the 0.95 level; however, just recently it formed a downward-sloping channel. At the moment, the pair is trading near the upper trend-line around 0.8960 and since this is a reversal pattern then a bullish break-out is more likely. Also around current trading
Similar to the previously discussed currency pair, the USD/CHF pair has recently approached the lower trend-line of the channel up pattern and is trading around the 50-period SMA at 0.9367. Last time the pair neared pattern's support in the middle of the previous week and managed to bounce from it to the upside. We tend to believe in pair's ability
The Dollar/Yen currency cross has been moving in a distinct uptrend since the second week of September, when it started forming the bullish channel on a hourly chart. Right now the Dollar is preparing to face the lower boundary at 108.24, trading just above this level around the weekly pivot point at 108.40. If the attempt to cross this level is unsuccessful, we can expect the currency pair to gain value.
Already, since the beginning of March the Swissy has been depreciating against the Singapore's Dollar and in early July it entered a bearish channel that now is a 304-bar long. A few weeks ago the pair approached more than a year low at 1.3443, that has given some impulses for the currency couple to near the pattern's resistance line around
Since the beginning of September the pair has been trading sideways; however, as it failed to consolidate above the 1.02 mark, the Aussie started gradually losing value against the Canadian Dollar and on 9th of September entered a bearish channel. The formation represents 217-bar long channel down pattern with high quality and magnitude. Currently, the pair is headed towards the
The Pound/Aussie cross is trading to the upside since September 8. Even though the trading range is rather narrow, the pair is steadily moving inside boundaries of the channel up. Recently the Pound bounced from the lower trend-line and is heading towards the upper boundary of the pattern, hovering around the 1.8412 level right now. While technical indicators are generally
After a sharp decline of the single currency in the middle of previous week, the pair started forming a descending triangle pattern, filling space between two trend-lines. Recently the currency approached the point just below the daily R1 at 9.9575, where trading range is rather narrow, meaning that the break-out to any side may happen soon. According to historical data,