Since the beginning of the year, the British Pound has been unremittingly gaining value versus the greenback. This helped the pair to attain 1.7180, the highest level since at least 2009 that lies on the upper trend-line of the bullish tunnel, inside which GBP/USD is vacillating now. Despite being able to consolidate above the 50-hour SMA at 1.7131 about an hour
Since March the bears have been largely in control of the market, leading to an eight-figure decline and appearance of the downward-sloping channel, meaning the long-term outlook is negative. In the short run the Euro is also considered to be bearish, since the currency has recently bounced off the upper down-trend line. At the moment EUR/SGD is facing the support
Because of the support near 113, CHF/JPY did not extend the May sell-off and was able to stabilise near it. Subsequently, the currency pair started to recover, and later on the rally developed into a bullish channel. And while the pattern itself implies a rebound in the nearest future, as the exchange rate has just touched the lower boundary of
The very end of June was a favorable time for the British Pound to start an escalation versus the Japanese Yen and the pair indeed skyrocketed from 172.42 to 175.39 in less than a week ended July 3. However, the rally probably was excessive as the pair was forced to exit the 112-bar long channel up pattern it formed while
The greenback has been tilted upwards against the South African Rand since late June when a stab to a one-month low of 10.5300 spurred a rally that has been developing inside a 137-bar long bullish corridor. Currently, the currency pair is sitting slightly above the 50-hour SMA at 10.7638 that is meandering not far away from the lower trend-line of the
A rebound from a three-year low of 1.5479 performed by EUR/NZD lasted less than one week ended June 30 when the pair embarked upon formation of the falling wedge pattern. However, the downside trend pertaining to the nature of the pattern is likely to end as EUR/NZD seems to have managed to settle above the pattern's resistance. Now The 200-hour
After a plunge to a six-month low of 33.55 late June, the U.S. Dollar commenced an upward move against the Russian Ruble that helped the pair to shape a 215-bar long ascending triangle pattern on the one-hour chart. At the moment, future direction of USD/RUB seems unclear. Market players on the SWFX expect the pair to depreciate in the hours
The market has been largely bearish since March, when USD/CAD was trading just beneath 1.13 and failed to rise above it. Now the currency pair fluctuates beneath 1.07 and seems to be likely to add to the losses. Even though the hourly technical indicators are pointing upwards right now, the U.S. Dollar is expected to stop and make a U-turn
As the British Pound was unable to continue depreciating against the kiwi because of the support at 1.9350, GBP/NZD started a recovery, which is already more than 100 bars long.However, at the same time the currency pair has reached an important resistance level at 1.9660 that is considered to be a threat to further advancement of the price, as it
EUR/GBP is prolonging its three-month decline that has already pushed the pair to a two-year low of 0.7925 that lies on the lower trend-line of the latest formation shaped by the instrument– channel down pattern. Now the pair is sitting at the recent low and considering the SWFX sentiment – 67% of all orders are placed to sell the currency couple–
It seems a sharp rally of the Euro against the Swiss Franc that took place a day earlier exhausted the pair's potential at a time when the instrument needed a bullish impulse to settle above the upper trend-line of a falling wedge pattern. Currently, the pair is headed towards the pattern's upper trend-line but a return to the formation
NZD/CAD has been constantly attempting to exit a 253-bar long descending triangle pattern that has been blocking the pair's moves since mid-June. Up to now, the currency pair has unsuccessfully tried to breach the pattern's boundaries for four times but given that the apex will be reached in a several hours, we may expect NZD/CAD to exit the formation in
The Swiss Franc was rapidly appreciating versus the Japanese Yen during five trading days ended July 4 when the pair unexpectedly halted its winning streak and plunged below the lower limit of the 81-bar long rising wedge pattern it entered late June. Now CHF/JPY is on the brink of a deepening sell-off as a bearish breakout from a trading pattern usually
Being that the resistance at 0.90 proved to be impenetrable in June, the U.S. Dollar had no choice but to enter a down-trend. However, mainly because of a recent change in the fundamental context, the upper boundary of the bearish channel has just been breached. Accordingly, the currency is now likely to recover. In this case USD/CHF should first target
For the past 250 hours the trading range of EUR/PLN has been gradually narrowing. But this tendency is unlikely to persist in the future, considering that the currency pair has just broken the lower edge of the triangle it has been trading within since Jun 19. Now, if 4.1450 is confirmed to be the new resistance, possibly after a test
The bears have been in control of the market since March, when the Euro did not have enough strength to overcome 1.56. However, there are signs their reign may soon come to an end, as the currency pair has been recently forming a falling wedge pattern that usually portends a change in the trend.If the falling resistance line at 1.4566
EUR/SGD entered a down-trend after a failure to surpass the resistance at 1.77 in March. The pattern is already 500 bars long and is likely to remain intact in the future. Since the mid-June the currency pair has been forming a rising wedge within the bearish channel and has already reached its apex, meaning there should soon be a reversal
As EUR/SEK appears to be unable to break the resistance at 9.2129, there is a high possibility of the selling pressure persisting in the future. If this is the case, the falling resistance line at 9.1850 should act as a ceiling and prevent development of any rallies.Instead, the price will be expected to fall beneath the recent low at 9.1383
For the past week CHF/SGD has been trading within the boundaries of a bullish channel. And if we ignore a spike made on Jun 19, the trend-lines of the pattern could be extended even further, till the Jun 12.Accordingly, the Swiss Franc is expected to respect the support at 1.40, which is reinforced by the weekly PP and 200-hour SMA,
We have observed a rapid appreciation of the Euro against the Swedish Krone that started in mid-June; the advance was so sharp that the pair managed to attain the highest level since at least 2011 of 9.2130 only 10 days after the climb has started. Meanwhile, EUR/SEK now is sitting close to the lower limit of the pattern and considering
Having touched a one-year low of 1.6864, the single European currency commenced a rebound against the Singapore Dollar. Currently, the pair remains in the up-trend and we are not likely to see notable changes to this trend before long given buying pressure pertaining to the bullish formation, rising wedge, inside which the currency couple is vacillating right now. However, some correction
A rise to a two-month high of 102.79 early April initiated a long-term depreciation of the U.S. Dollar versus the Japanese Yen. The largest part of the slide has been performed within the limits of the 180-bar long bearish tunnel, where the pair touched a one-month low of 101.23 late June. In the foreseeable future, the greenback is likely to recover
After falling six figures in the first half of June EUR/NZD managed to stabilise near 1.56. However, the Euro is starting to feel the bearish pressure once again, as evidenced by a downward-sloping channel emerging on the hourly chart. The pattern implies the currency pair is soon going to depart from the trend-line at 1.5640 and head towards the lower
During the past two weeks the volatility of USD/PLN has been decreasing, which led to a formation of the symmetrical triangle. However, it is yet uncertain in which direction the break-out is going to occur, since there were no distinct trend before the pattern. According to the daily technical indicators and SWFX traders' sentiment (71% of positions long), there is