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
The AUD/JPY currency pair has been generally trading sideways since April of this year; however, recently the pair has formed the bullish channel on an hourly chart. Currently it is trading just below the upper boundary of the channel at 95.96. Concerning the fact that the pair decided not to move down after the recent peak, the break-out to the upside
More than a two month long advance performed by EUR/PLN helped the pair to develop an 273-bar long Channel Up pattern started on 9th of June. At the moment the currency pair is fluctuating between the 100-period SMA and weekly S1 at 4.1875/4.1799. Moreover, the pair's volatility is at the lower levels, thus a break-out is not expected in
The EUR/AUD currency cross has been on a down-trend since 8th of August; however, this Broadening Falling Wedge pattern started to form on 12th of August. Yesterday the pair approached the August low and from there started its move higher towards the 100-period SMA and later the pattern's resistance at 1.4365. The short term (1h) technical studies point upwards; strengthening
The EUR/SEK currency pair is trading in the narrow bearish channel pattern on an hourly chart. The pattern, formed on August 11, is now trading around 9.1450 level, far away from any major resistance and support levels. Taking into account the strong bearish (71.5%) sentiment on the market, the pair is likely to depreciate in the nearest future, at least
The EUR/JPY cross is trading in the bearish channel since the beginning of July. Recently, the pair has breached the upper boundary of the channel; however, it managed to return back very fast. At the moment the Euro is facing a major level at 137 and, if it is breached, the Euro will most likely drag down in the direction
GBP/USD has already lost around 500 pips since it was trading near the major level at 1.72 and a further decline is possible since there is a Falling Wedge pattern emerging on the chart. The Daily technical studies are pointing south, strengthening the bearish outlook. Although, to prove its bearish intentions the pair has to slide below the 1.67 level,
On 11th of August USD/SGD started to form a bearish channel. Therefore, it is expected that the Greenback might be losing value versus the Singapore's peer in the foreseeable future. Although, this scenario is not supported by the technical indicators, with the daily technicals pointing to the north. Moreover, the pair's sentiment is strongly bullish (71.95%) and since the pair
The EUR/SGD currency pair has formed a very narrow bearish channel pattern, being that the range between and upper and lower trend lines does not exceed 80 pips at the moment. Currently, the pair is moving away from the upper trend line, breaching the daily S1 level at 1.6659. Short-term technical indicators support the fall of the pair and we
The USD/CHF currency pair has started forming the triple top pattern in the middle of July, since then covering 132 bars on the 4H chart. Recently the U.S. Dollar has crossed the lowest valley of the pattern; however, after four candles it has successfully returned above the mentioned mark of 0.9040. Taking into account the fact that the currency pair
At the beginning of August EUR/SEK was trading in a sideways trend; however, on 8th day of the month a downward sloping channel started to form. The pair recently (on 3th of July) reached the highest level in more than three years at 9.3908. Nonetheless, the Euro was not able to hold its positions that high and started to tumble
A Descending Triangle pattern started to form when the pair failed to reach the major level at 0.95. After that, NZD/CAD has been on a down-trend with the bearish target level at 0.92. At the moment of writing, the pair's volatility has dropped to lower levels; therefore, a break-out to the upside is very unlikely. Also the majority of the
One can see the outlines of a symmetrical triangle on the daily chart of XAU/USD. After a precipitous decline (from 1,800 to 1,200), in the third quarter of 2013 the price entered a correction phase, which later on developed into a continuation pattern. Consequently, the gold is more likely to break the up-trend support line at 1,280 and resume
The recently-formed Falling Wedge pattern on the USD/CHF 1H chart is moving closer to its lower boundary around 0.9030, passing the Daily S1 level at 0.9041 at the moment. Being a common feature for the present pattern, the trading range is decreasing along with the trading volume. We assume that the break-out may take place the next Tuesday, if the
Since Tuesday the AUD/NZD currency pair is trading under a constant bearish pressure, which led to the formation of the channel down pattern on an hourly chart. The pair has recently bounced from the upper boundary of the channel and is now slowing down around the lower Bollinger band level at 1.0962. While pending orders in the 100-pip range generally
The pair lost its long-term bullish momentum at the middle of March and it has dropped more than 1000 pips since then, meanwhile, forming a Channel Down pattern. The trading range seems to be narrowing as the previous minor high was at 1.6805, around 50 pips below the down-trend resistance line. If the 4H and daily technicals are mixed then
After a sharp drop on 11th of August the pair entered a phase of consolidation and by reaching 1.0170 level a symmetrical triangle on 1H chart was formed. Nevertheless, currently the volatility levels are very low, thus a break-out is not likely in the next couple of periods. Moreover, there is a higher probability of a sell-off than a rally,