AUD/JPY received a strong bullish impetus, after challenging the major level at 94. Since then the currency pair has been in the up-trend. However, at the moment the pair is hovering near the lower trend-line, thus strengthening the bearish break-out scenario. At the mean time, the technical studies are neutral. Nonetheless, since this is a reversal pattern and since the
U.S. Dollar has been outperforming the Japanese currency since the 5th of September. However, instead of keeping the trading range constant, the swings from one trend-line to another were becoming wider with each wave, leading in the end to formation of the broadening wedge. Currently, the pair is moving towards the lower boundary, thus since this is a reversal pattern
Since Euro's confrontation with the major support at 4.09 in June, the currency pair has been in a distinct up-trend. As a result, EUR/PLN has managed to form a high-quality bullish channel during the last four months, meaning the common currency should keep on appreciating relative to the Polish Zloty. And this rally is unlikely to be postponed far into
Opposite to the previously discussed currency pair, the Euro/Loonie cross has formed a bearish channel on the four-hour chart. As a recent development, the pair has been heading downwards from the upper-boundary and will most likely continue doing that in the nearest future. Short-term indicators send bearish signals at the moment, while daily ones are mixed. However, negative outlook is
The bullish channel with distinctive high quality and magnitude levels has been created by Dollar/Turkish Lira currency cross. However, keeping in mind the overall positive trend, the pair has been trading sideways for past couple of hours. We expect such a move to continue, as market sentiment is rather mixed at the moment (only 52% of all positions are long
Being unable to surpass the 1.71 mark, EUR/SGD was forced to enter a downward trend. There are certainly more bearish signals then bullish at the moment, even though the currency pair currently is moving closer to the down-trend's resistance line. One of the key drivers are the technical indicators, as daily and weekly ones still remain to the downside. Moreover,
Having established a strong support around 36.00, USD/RUB was able to form a bullish channel, meaning the U.S. Dollar is expected to gain in value versus the Russian Ruble. However, for the bullish outlook to remain in effect over the coming trading days, the pair should stay afloat above the upper trend-line at 38.18. Meanwhile, most of the technical indicators
The South African Rand has been declining against U.S. Dollar since first days of September. As a result, the pair formed a bullish channel on a hourly chart. Despite crossing the upper boundary of the pattern for several times, the U.S. currency managed to consolidate inside boundaries of the channel up. Right now the pair is trading around daily pivot
The EUR/NZD currency pair has formed a high-quality and magnitude double top pattern on a short-term chart. At the moment we are observing the single currency trading to the south in the direction of pattern's support line at 1.5775. If it manages do reach this level and bounce back to the upside, we will most likely see a formation of
The pair failed to strengthen above the 0.85 mark on 14th of August and since then it has lost around 400 pips, meanwhile forming a broadening falling wedge pattern. At the moment, NZD/USD is trading around the lower trend-line, which is represented by monthly S1 at 0.8083. Additionally, that is indicating on a higher probability of a bearish break-out, as
The pair has formed a broadening falling wedge pattern, when on 22nd of August the Kiwi failed to consolidate above the 0.92 level. If at the end of August and at the beginning of September the pair traded mostly around the lower boundary of the pattern then now we are seeing more fluctuation. Moreover, the 4H and daily technical studies
The Euro/Pound currency pair is currently moving in the direction of the lower boundary of the rising wedge pattern. However, for some time the pair was not able to cross the monthly pivot point at 0.7953, but eventually breached it to the downside. We expect the pair to reach the major level and lower trend-line at 0.7899, before making it
We have already discussed the present currency pair some time ago. Since then, the Loonie bounced from the lower trend-line and is currently heading to the upside. Despite the strong bearish sentiment among SWFX traders (66% of all positions are short), we are waiting for the pair to continue going to the north. However, the pair is not supposed to
XAU/USD failed to breach the psychological level at 1.13, after that coming under a heavy selling pressure that pushed the pair into a broadening falling wedge pattern. Recently, the yellow metal has tested the weekly PP at 1.242; however, at the moment it was not able to breach it. Nevertheless, the short term (4H) technical indicators are more to the
Since early September the bears have taken control over the market, when the Aussie did not have enough strength to overcome the 1.13 level. However, at the moment the pair is appreciating towards the upper trend-line around 1.1150. Meanwhile, the technical indicators are pointing sideways, suggesting that consolidation around the 1.1100 level could follow. At the same time the SWFX
The Aussie started depreciating in the beginning of the previous week, while currently the pair is moving away from the upper-boundary of the channel down pattern at 0.9043. Short-term continuation of the trend is suggested by technical indicators, as they point to the south. However, at some point of time in the future the pair may consolidate or even move
Unlike other USD-crosses, the currency pair with the Polish Zloty has been moving sideways during last six days. Therefore, the pair is gradually filling space between two upward-sloping trend-lines. The present trading level is located at 3.2438 and we expect the pair to go down further, at least until the lower trend-line, while more than 70% of market participants support
Having touched the 200-period SMA on 4th of September the pair gained momentum and started to form a rising wedge pattern. Currently, the pair remains in the up-trend and we are not likely to see notable changes to this trend if the 2.21 level remains intact. Moreover, the technical studies are also neutral with slightly more bullish signals, thus suggesting
Last week the CAD/CHF cross tried to attain the 0.86 level for the second time this month; however, unsuccessfully, after the failure a falling wedge pattern started to form. At the moment, the Loonie is still challenging the upper trend-line, after approaching it yesterday. Unfortunately, the technical indicators do not give any, more or less, clear indications about the
The high-quality rising wedge pattern on a longer-term chart of the USD/NOK currency cross has been formed relatively recently. At the moment the trading level is located at pattern's resistance around 6.4076. The pair has a good potential to breach this level and continue hovering to the upside, at least until the weekly R2 level of 6.4551. Moreover, from the
The Pound/Loonie currency pair has been moving in a distinct up-trend since beginning of the previous week, as it led to the formation of the bullish channel . The pair is currency hovering in the direction of the lower-boundary of the pattern, trading just above the daily S3 around 1.8000 major level. Despite strong bullish sentiment among SWFX traders (58%
At the beginning of September the CHF/JPY cross dropped below 113 mark; however, since then the pair's bulls have pushed the Swissy higher, forming a bullish channel. If on Friday the bulls tried to breach the upper trend-line around 115 level, then today the pair is nearing the lower boundary. Yet, the pair is currently hovering around the recent month
After touching the 1.7214 level on the 8th of September GBP/AUD started to form the broadening rising wedge pattern. At today's opening the pair's bulls made an attempt to penetrate the upper trend line, which is also represented by the monthly R1 at 1.8085. However, the attempt was unsuccessful and the pair slid lower towards July low at 1.7990. At
Due to a dense supply area between 1.70 and 1.73 EUR/NZD was unable to extend the April-June recovery last year. Instead the Euro entered a down-trend, which implies long-term depreciation of the common currency relative to the New Zealand Dollar. However, despite the daily and monthly technical indicators being mostly bearish, right now the pair is undergoing an upward correction. If