Following a dip portended by a double top pattern, EUR/CHF entered a consolidation phase, which later on developed into a symmetrical triangle. Given that the currency pair has almost reached the apex of the figure, there is a high probability of a break-out and the ensuing elevated volatility. Since the market was bearish before the pattern, a sell-off through the
Soon after breaking out of the symmetrical triangle (Jan-Apr) to the downside, EUR/JPY started to form another pattern, this time—a bearish channel. Accordingly, the Euro is likely to continue losing value against the Japanese Yen in the foreseeable future. Such a scenario is also supported by the technical indicators, especially on the daily and weekly time-frames. The currency pair is expected
At the moment the pair is fluctuating around the upper trend line of the Broadening Falling Wedge pattern that formed at 14th of May. In the perfect scenario the break-out should be to the upside in this case; however, we expect to see at least one more bearish wave as the pair rebounded from the down-trend resistance recently. The strongly
The pair is trading in the boundaries of rectangle pattern since the middle of July, recently touching the resistance line at 1.8191. Inside this longer term pattern recently formed a short term double top pattern (from 7th to 8th August), since then GBP/AUD has weakened. Nonetheless, after the current consolidation the pair should decline further towards the rectangle's support, weekly
USD/RUB performed well in July by covering the distance between 33.5 and 36.5. But at the same time the trading range of the U.S. Dollar has been narrowing, which has eventually led to formation of the rising wedge.Since the pattern has been recently broken to the downside the Buck will mostly likely continue to weaken in the nearest future. The
It seems the rally that was started in mid-July has finally come to an end, being that there are two distinct tops on the four-hour chart of USD/CHF. Since this is a reversal pattern, a breach of the neck-line at 0.9041 will be a distinctly bearish sign, and the ensuing dip may potentially extend down to 0.89. At the same
The pair recently received a bearish impetus near the up-trend resistance at 1.4736. However, at the moment the pair's bears are trying to drag EUR/CAD below the monthly R1 at 1.4698.
EUR/SGD is trading around the weekly PP at 1.6748, which is slightly below the last minor high at 1.6803. For the Channel Down pattern to remain in effect the pair has to reach the down-trend resistance line at 1.6850.
Starting from the second half of 2000 USD/PLN has been forming a symmetrical triangle on the monthly chart. But in the last quarter of 2013 the pattern was broken to the downside, meaning the overall bias is now to the downside. However, the currency pair failed to cross 3.00, even after a pull-back to the up-trend. At the moment the U.S.
AUD/NZD received a strong bullish impetus after falling down to 1.0623, which helped it cover more than four figures within 15 days. However, the gains did not extend beyond 1.1050, and, since the currency pair made two distinct but unsuccessful attempts to break this resistance, there is a high possibility of a reversal.Still, we need to see a close beneath
CHF/JPY seems to be trading within a bearish channel right now. The bias to the downside is also reinforced by the technical indicators, especially on the four-hour and weekly time-frames.However, the upside risks are increasing and will peak at 111.50, since the currency pair has nearly completed yet another leg down and is approaching the lower boundary of the pattern.
EUR/SEK currency pair has been trading inside the symmetrical triangle since the end of July and now it has reached the triangle's apex. It seems that we might see a upward break-out towards the major level at 0.93.
This channel down pattern started to form at the second part of July and it has lost more than 200 pips from its peak on 24th of July at 0.9473. However, at the moment of writing AUD/USD is hovering close to the down-trend support line at 0.9225.
Owing to the demand near 1.37, CHF/SGD was able to stabilise and even start a recovery after a strong four-figure sell-off in July. The fact that the currency pair is forming an upward-sloping channel confirms this was a reversal rather than a temporary upward correction. But in the near term the price is likely to slide from 1.38 and down
USD/ZAR has been in a strong up-trend for the past two weeks, and the currency pair seems to be in a good condition to extend the gains further after the current correction. The U.S. Dollar has just come off 10.8231 and is about to touch the lower boundary of the bullish channel at 10.6677. The price is expected to rebound
The pair is trading very close to the up-trend support line at 0.8408.
After a decline that started at the beginning of May the pair reversed some of the losses in June.
USD/CHF has been in a distinct up-trend since mid-Jul, and, judging by the technical studies, the upward momentum is unlikely to weaken. However, since the trading range of the pair has been narrowing lately, there is a significant possibility of bulls soon becoming exhausted, as the pattern implies a potential reversal of the trend.Nevertheless, right now the outlook is positive.
There is a falling wedge emerging on the four-hour chart of EUR/AUD, and the trend-lines forming it may be extended back to the highs and lows seen in January. And while ideally we would expect a break-out to the upside in this case, there is likely to be at least one more bearish wave before the upper trend-line is going
The Euro has been in a down-trend since the end of February; although, this particular channel started in the first part of June. It seems the trading range is narrowing, as during the last rally the currency did not reach the upper line around 138.35. The next target is below the 136 mark, which has not been breached this year.
Since Jul 11, when AUD/CAD managed to settle above the 200-hour SMA, the currency pair has been trading in an up-trend. However, in the near-term we may see a decline, being that the price is about to touch the upper boundary of the bullish channel at 1.0244. Afterwards the rate will be expected to stabilise somewhere around 1.0160, as there
How EUR/CAD reacts to a test of 1.4563 is likely to define its behaviour in the next few days, potentially even weeks, since this level is the neck-line of a double bottom pattern. In case the resistance is broken to the upside, we can expect a bullish run through the weekly pivots and up to the Jun 6 high at
Since USD/DKK confirmed presence of the demand at 5.44 on Jul 1, the rate has been in a distinct up-trend. As the currency pair formed a bullish channel during this time and most of the daily and weekly technical indicators are currently pointing up, there is a high possibility the tendency is going to persist.Right now the U.S. Dollar is
Being that the trading range of USD/SEK has been recently narrowing, there is a high possibility of a rising wedge emerging. And while the pattern itself usually implies a sell-off, right now the U.S. Dollar is likely to respect the up-trend at 6.86, which is also reinforced by the daily S1 and 200-day SMA), and try to surpass the Jul