Another pattern involving the Australian Dollar is now being formed; the pattern represents a 225-bar long triangle shaped by AUD/CHF. The last two days were the time when the pair refused to respect the trend-lines and performed an unsuccessful attempt to leave the triangle. Currently, we may see that AUD/CHF did not stop trying to exit the pattern since it
AUD/CAD seems to have an intension to come back to a 217-bar long channel up pattern it exited several hours earlier. In particular, the pair dived below the formation's support line nine hours earlier but the 200-hour SMA at 1.0048 contained the decline and gave the pair's an impulse for a climb. Now the instrument is sitting just below the
A sharp retreat of NZD/USD inside a 69-bar long downward sloping tunnel was a confirmation that a rally to a three-year high of 0.8839 early July was excessive. Right now the pair is attempting to halt its losing streak – the instrument has already jumped above the upper trend-line and is likely to try to consolidate above this level in the
After increased volatility seen a week ago the Aussie started to calm down, which has eventually led to formation of a symmetrical triangle. However, despite the ‘sell' signals on all relevant time-frames, the currency pair seems to be already willing to break-out from the pattern to the upside.If this is the case, the first resistance the price will encounter is
Thanks to the support at 3.0330 USD/PLN was able to commence a strong recovery, which later on turned into a bullish channel. Accordingly, since the currency pair has recently bounced off the lower boundary of the pattern at 3.0562, it is likely to surpass the immediate resistance at 3.0650, represented by the daily R1 and Jul 4 low. The rally
Since the very end of April, EUR/JPY has been tilted downwards and the tendency is likely to preserved in the hours to come given that the instrument is trapped by the limits of a bearish formation-falling wedge. Currently the pair is sitting near a nine-month low of 137.27 that lies on the lower trend-line of the formation and only
A two-week bounce from a 15-month low of 4.0922 exhausted EUR/PLN potential and the pair was forced to reverse its trend. Now the currency couple is locked inside a gradually converging bearish corridor that is around 95-bar long. In the foreseeable future, the single European currency may face additional losses against the Polish Zloty since the short-term SMA has just
The market has been bearish since the second half of March, when EUR/CAD turned around ahead of 1.56. Now there is a downward-sloping channel emerging on the four-hour chart. The currency pair should thus be capped by a cluster of resistances between 1.4600 1.4650 (down-trend, weekly R1, Jul 14 high and 200-period SMA) and instead target the lower boundary of
Right now the Australian Dollar seems to be in a good position to appreciate relative to the Franc, considering that it is currently trading just above the lower edge of the bullish channel. If the support at 0.8337 stands its ground and does not let the bears to take control of the market, AUD/CHF will be expected to start moving
A short, only 62-bar long, ascending triangle pattern was formed with the help of the Canadian Dollar. However, this time the loonie was vacillating against the Swiss Franc and in contrast to CAD/JPY trend examined earlier the current formation has a bullish bias. Right now CAD/CHF is sitting inside the triangle not far away from the apex that will
The Euro has been losing ground versus the Turkish Lira for almost a month; however, the formation of the bearish corridor started only around 10 days earlier, when the pair's down-trend became more distinct. At the moment, the currency couple is trading in the lower end of the tunnel and we may witness an accelerating decline before long considering that more
Although EUR/PLN has been trading sideways since mid-June, now we can expect some notable moves to take place since the currency couple eventually left the triangle pattern that has been restricting the pair's upswings and downswings for the last 156 hours. In particular, the currency pair had dropped below the lower boundary a few hours before it reached the apex
A retreat that followed a jump to a seven-month high of 96.23 pushed CAD/JPY into a 76-bar long descending triangle pattern early July. However, now we can see a demonstration of the pair's unwillingness to succumb to selling pressure— CAD/JPY has recently exited the formation by breaking the upper limit and consolidating above this formidable resistance line. At the moment,
Being that USD/CHF is still unable to restore bullish momentum and gain a foothold above 0.90, the bears do not waste time and constantly push the price downwards. At the moment the rate is fluctuating just below the down-trend, meaning there is an increased likelihood of a sell-off in the nearest future. In this case the support at 0.8899 (weekly
After completing a four-month head-and-shoulders pattern (from December 2013 to March 2014), EUR/AUD remains in a down-trend and forms a bearish channel. Consequently, we expect the currency pair to leave the upper trend-line of the pattern at 1.4530 and start moving in the direction of the lower trend-line at 1.41. However, the Euro will have to pierce through a number
There is potentially a bullish channel emerging on the hourly chart of GBP/CAD, as the currency pair was able to find strong support in the face of 1.82. If this assumption is true, the Sterling should decouple from the lower trend-line and start moving towards the Jul 14 high at 1.8418, then towards the upper trend-line of the pattern at
Since the beginning of this month USD/DKK has been trading within the boundaries of the symmetrical triangle, but now the currency pair is approaching the apex of the pattern, meaning we should be wary of a break-out in the nearest future.Right now the U.S. Dollar is testing the upper trend-line. Accordingly, it should turn around at 5.48 and then head
At the moment GBP/AUD appears to be closing in on the apex of the symmetrical triangle it has been forming since the beginning of July. However, it must be noted that the lower trend-line can be extended to the June low. Consequently, the risks are considered to be skewed to the upside, and the resistance at 1.8251, represented by the
After being bullish for five months, EUR/SGD turned around a few steps away from 1.77 in March, and since then the currency pair has been trading in a distinct down-trend. And as at the beginning of this month the Euro confirmed the falling resistance line, which was reinforced by the 200-period SMA, the pattern implies extension of the current sell-off
Since the beginning of February NZD/USD appears to have been forming a bullish channel. And while in the short run the currency pair is likely to preserve the momentum and move upwards, the medium-term outlook is bearish, given that the price is approaching the upper edge of the pattern. Once the Kiwi touches 0.9046, it will be expected to turn
The most traded currency pair has been narrowing down its trading range since early July, being locked inside a symmetric triangle pattern. Currently, the pair seems to be on the verge of a breakout, considering that the apex of the 104-bar long formation will be attained later in the day. Taking into account the fact the pair is now vacillating only
Having peaked near a three-year high of 0.8838 for two times, the New Zealand Dollar embarked upon depreciation against its U.S. counterpart. Although the decline was expected since the pair is trading inside a 104-bar long double bottom pattern, the pair's following moves were surprising. NZD/USD jumped above the short-term SMA at 0.8815 a few hours earlier and now is
A one-week long retreat of CAD/JPY started at a seven-month high of 96.23 reached in the very beginning of July. Recently, the currency pair has touched a three-week low of 94.30 that lies slightly below the lower boundary of the corridor. However, at the moment, the instrument is trading within the pattern's trend-line, albeit it is still sitting very close
Since mid-March, the single European currency has been gradually losing value versus the British Pound and on Jun 26 the pair entered one of the several bearish patterns it formed throughout its slide. The formation represents a 237-bar long channel down pattern with average quality but high magnitude. Now the currency couple is headed towards the upper limit of the pattern