Thanks to the support at 1.9600 GBP/NZD was able to start a recovery; although, for now it has been only a short term trend. The near term outlook appears to be bullish, as the price is currently hovering near the lower trend-line of the pattern. We could expect the pair to appreciate towards the major level at 2.0000, which was
The AUD/NZD currency cross has been on a up-trend since 15th of August, in this time period a Broadening Rising Wedge pattern formed. The minor high (previous high) was at 1.1189; however, at the moment the pair is moving closer to the up-trend's support line at 1.1133. The daily technical studies are suggesting that a appreciation is expected in the
The rather unusual situation has been created on an hourly chart for Dollar/Norwegian Krona cross. The triangle pattern, formed in the end of the previous week, has recently been confirmed to the downside; however, the pair managed to regain its strength and bounced back through the pattern and is currently trading above the upper trend-line at 6.1855. Taking into account
The Euro/Zloty currency cross has formed a channel up pattern, and the pair has already been slowly hovering in the direction of the lower trend-line at 4.1747 for a long time . We assume that in case the pair reaches the lower up-trend, the break-out to the downside is very possible. Market sentiment is bearish, being that 74% of all
After nearing the 0.95 level at the middle of July the pair gave up and plummeted towards 0.92 level, setting a low at 0.9239. With the recent fluctuation the Double Bottom pattern has formed and at the moment the pair is trading close to the neck-line at 0.9346. In the base scenario the neck-line should be breached to the
The Broadening Rising Wedge pattern started to form when USD/JPY breached the major level at 103. Since then it has reached the 104 level, with the minor high at 104.29 (it also is 7-month high). The technical readings are mixed, thus we cannot get any clear indications from them. Nevertheless, the pair is trading around the lower trend-line; therefore, we
The ascending triangle pattern on the four-hour chart of the Dollar/Turkish Lira currency pair has just been confirmed to the downside, as the price crossed the lower trend-line. At the moment it is hovering slightly above the monthly R1 level at 2.1678. We expect the U.S. Dollar to depreciate further; however, the currency will have to cross not only the
The Loonie/Japanese Yen cross has formed a 257-bar long bullish channel on an hourly chart. Concerning the well-above average level of quality and magnitude (69% and 100%, respectively), the pair is most likely going to continue forming the present pattern. Canadian Dollar has recently approached the lower trend-line of the channel at 94.62; however, it managed to bounce back above
EUR/NZD found a strong resistance around monthly R1 at 1.5896, while at the same time the pair is supported by the major level at 1.57. The currency pair has topped twice; however, it seems that the pair is peaking once again, indicating on a possible triple top pattern formation. Moreover, the pair failed to break the neck-line at 1.5718 to
USD/CAD was not able to reach the 1.10 mark, as it entered a consolidation phase slightly below the level. According to the technical studies, a break-out to the upside is more likely than a decline. If this happens then the pair should breach the major level at 1.10; however, we can see that the pair's bulls failed to do that
Despite the fact that the pair was able to breach the boundaries of the channel up pattern for several times, the NZD/USD currency pair still has a very high quality indicator (69%) and is trading between two trend-lines right now. The kiwi has recently breached a significant support level, represented by the monthly S1 level at 0.8366. Despite the high
The bullish channel on the hourly graph of the Greenback/Swedish krona cross has been formed in the beginning of the previous week and since then has covered only 86 bars. Currently U.S. Dollar is going down from the upper boundary, hovering around the daily S2 level at 6.9293. Taking into account high quality and magnitude levels, we predict the bullish
Due to a fairly strong support at the 94 level the pair was able to prolong its longer term advance that started on August 8th. Taking into account that CAD/JPY has formed a bullish channel, it is likely that the Loonie will receive a bearish impetus from the pattern's resistance. Nonetheless, the technical studies are mostly bullish increasing the possibility
Just recently a bullish channel has formed, as USD/CHF found a bullish momentum slightly above the monthly PP at 0.9018, after a period of consolidation. Today the pair opened near the upper boundary of the pattern; however, it was not able to hold its positions or to reach the resistance level and fell slightly lower. Nevertheless, the shorter term technicals
Given that EUR/NOK is currently forming a double top pattern, there is a high possibility of a strong sell-off once the currency pair passes the neck-line at 8.08. And although we did not see any considerable increases in volume after the price approached the peaks (around 8.57) and declined, which would serve as an evidence in favour of weakening demand,
The single currency has already lost more than 850 pips since the beginning of May, when the current falling wedge pattern was initiated. At the moment the EUR/SGD currency pair is hovering around the 1.6569 level, namely between the weekly S1 and S2 levels. As the current trend of the pair seems to be negative, we expect the pair to
After the recent touch of the lower boundary of the current channel the Euro did not manage to receive enough support to rise back to the upper boundary and slipped even more. The present trading level is located at 1.4243 (weekly S2), just 13 pips above the lower boundary of the channel. The pattern can be confirmed in any direction;
For the last couple of days the pair has been showing signs of a bearish break-out. Moreover, according to the technical indicators, a break-out to the downside is more likely than a pronounced advance. In a base scenario the descending triangle's break-out is to the south, as it is a continuation pattern. However, at the moment the pair is testing
The pattern started to form relatively recently, namely on 15th of August or one week ago. Yesterday the pair reached the upper trend-line and since then it is sliding lower. The biggest obstacle for the pattern, to remain in effect, is around 171.50 level, as there is a cluster of support levels (200-period SMA; weekly PP; daily S3) that could
Along with many other Greenback crosses, the current pattern of the USD/PLN currency pair has been initiated in the beginning of July. Since then, the pair has covered almost 180 bars and is currently undergoing the bullish correction around the major level of 3.16. For the pair to continue growing, the next considerable resistance line is located at 3.1631 (weekly
The falling wedge pattern on an hourly chart pair has been formed in the middle of the previous week. At the moment the pair is moving closer to the upper boundary of the pattern, changing hands around the weekly S1 level at 0.9191. Considering the nature of the pattern, the trading volume is decreasing along with the trading range, while
The U.S. Dollar is on a up-trend since late June; however, the bullish channel formed slightly later, namely on 7th of July. Since the start of the pattern the Greenback has appreciated from 33.80 to 36.40, returning to levels seen on March. Now the currency pair is hovering around the lower trend-line, thus a bullish wave might be anticipated. For
GBP/NZD is entering the apex of ascending triangle pattern, that started to form on 15th of August. The pair plummeted of 13th of August ; however, since then the Pound has been appreciating moderately. GBP/NZD volatility has dropped to the lower levels and also the 1H and daily technical studies are neutral, even though the pair has reached the apex
Despite the strong bullish (64%) sentiment on the Cable, the pair is currently declining, as it was able to form the 135-bar long channel down pattern on the four-hour chart. Being that the Pound has not breached the boundaries of the channel, it is still pointing on the continuation of the present bearish trend. Four-hour and daily technicals also speak