The EUR/JPY currency pair has been generally declining since the beginning of this year; however, the current channel down pattern has been formed relatively recently, namely on July 3. Despite trading in the upward correction right now, the pair is likely to decline even more in the longer term, as the majority of daily and weekly technical indicators point to
The present bullish channel pattern on the 4H chart started emerging in the very beginning of July, since then covering more than 200 pips. On Jul 30, the USD/CHF pair breached the upper boundary of the pattern, however, it managed to return back rather fast. Currently the U.S. Dollar is heading in the direction of the lower boundary of the
We are seeing a signs of a bullish channel on the 4H chart of XAU/USD. The trend started at the middle of May with a decline; however, the peak at the middle of June indicated to a possible Channel Up pattern. The bullion is currently gaining in value, after it approached the lower trend-line at 1,280.64 recently. Also, the technical
At the moment CHF/JPY is fluctuating within a bearish channel and the pair is nearing the upper boundary around 113.21. With the shorter term technical indicators pointing upward the pair could approach the down-trend resistance. Although, the general question is whether the resistance will hold the pair in the pattern's boundaries. We expect the trend to continue, as an overwhelming
The market has been distinctly bullish since the mid-March, as USD/SEK covered the distance between 6.32 and 6.93. But the currency pair might take a prolonged break from the bullish run, as the chart points at emergence of an ascending broadening wedge, through the up-trend at 6.86 must be broken first. However, there are still no significant bearish signals from
Following a gradual appreciation of the Australian Dollar relative to its Canadian counterpart in July the currency started to consolidate. During this phase the bears seem to have gained an upper hand, since every consecutive peak was lower than the previous one, while the sell-offs were always put to a halt near 1.01. Accordingly, there is a high possibility of
USD/SGD has performed well starting from the third week of July till now, after being on a down-trend since the beginning of year. Nonetheless, at the moment the pair is hovering around the lower boundary of the pattern and it has to gain bullish momentum. We think the major level at 1.25, weekly PP at 12502 and the overwhelmingly bullish
The pair's up-trend formed at the end of July; however, at the moment EUR/AUD is confirming the bullish channel with a correction. The Europe's shared currency has just come off 1.4480 and is looking forward to touch the pattern's support around the major level at 1.43. The majority of 4H technical studies are also to the downside, suggesting that we
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.