As EUR/GBP failed to sustain a bullish momentum above the resistance at 0.84, the Euro was forced to give up all of its gains and to return to being bearish. For the negative bias to stay, the down-trend resistance line at 0.8139 is required to withstand the current buying pressure and send the pair down to 0.8056, where it could
Due to a tough support level at 1.0650, which AUD/NZD encountered on May 6, the currency pair was able to commence a recovery and subsequently form a bullish channel. Accordingly, the outlook on the Aussie is positive. However, there are substantial downside risks in the near term, being that the price has just touched the upper boundary of the pattern
A 181-bar long triangle pattern shaped by EUR/DKK originated close to a three-year high of 7.4690 reached early April. Since entering the pattern, the pair has been persistently attempting to exit the formation. One of these attempts we may see at the moment – eight hours earlier EUR/DKK jumped above the triangle's upper limit that was also supported by 50-bar
GBP/JPY was fluctuating near a five-year high of 174.94 during almost five months ended late April when the currency couple was trapped by two downward sloping lines. Now the pair is retreating from the upper limit of the 131-bar long channel down pattern but given that more than two thirds of traders on the SWFX hold a bullish view,
After a jump to the highest level since at least 2009, the greenback started to depreciate against the Turkish Lira. More than a four-month decline pushed the currency pair into a bearish corridor that now is over 310-bar long. However, the weakness is not likely to be eternal and we may see a proof of this soon. USD/TRY settled above the
EUR/JPY is nearing the neck-line at 139.37 of circa 300-bar long double bottom pattern the pair has been shaping since mid-May. A climb to this significant level was underpinned by the recent plunge to 137.96, a four-month low. At the moment, market players on the SWFX are not univocal in regards to whether we will see a breakout soon; the
Judging by the Cable's fluctuations in May, there is a bearish channel emerging on the hourly time-frame. Accordingly, the bias towards the currency pair is negative, but in the short term we are highly likely to see appreciation of the British Pound, as the currency has just bounced off the lower boundary of the pattern at 1.6674. Once GBP/USD overcomes
EUR/PLN was unable to cross the resistance at 4.2026 on May 18, and since then the Euro has been mostly moving lower and lower. As a result, there is a bearish channel on an hourly chart, implying that the rallies will not advance beyond 4.1590. Instead, the price is supposed to move further south. The immediate support is at 4.1345,
A massive sell-off (15 figures) in the last year's second quarter was stopped by the support at 0.92. Since then the Australian Dollar has been generally outperforming its Canadian counterpart. As a result, there is now a bullish channel emerging on the chart. However, at the moment the exchange rate is undergoing a bearish correction. The dip is likely to
GBP/NZD will reach the apex of a 94-bar long ascending triangle pattern in a few hours, suggesting that the breakout is looming. Now the pair is following a upward trend and considering the SWFX data-almost 60% of all orders are placed to buy the pair-the upcoming exit may be bullish. Technical data also props up this view. If this comes
During more than two months started in mid-March, the Euro was depreciating against the British Pound; however, the currency pair managed to halt its slide by entering a bullish tunnel on May 22. At the moment, the pair is sitting above the 50-hour SMA at 0.8135, albeit slightly. In fact, EUR/GBP had been struggling at the short-term SMA for
The New Zealand Dollar has been losing ground against its U.S. counterpart since early May, when it approached a three-year high of 0.8780. In the second part the month, NZD/USD entered a bearish corridor that took it to a two-month low of 0.8452. Now the currency couple is moving in the south direction and if the decline persists in the hours
AUD/CHF has been on the rise since May 21, when the pair embarked upon formation of the channel up pattern. Now the upswing may have come to an end given that AUD/CHF has almost broken the lower limit of the corridor. However, market players have not lost faith in the pair-more than two-thirds of them are bullish on the
The breakout has already occurred. Nevertheless, the descending triangle pattern formed by USD/ZAR is still worth paying attention, as bulls have received another strong boost from the so-called throwback. After a move back to 10.393, the pair received another strong bullish bias, and as soon as bulls penetrate the 200-period SMA and recent high, then they will aim weekly R2
Usually we recommend to avoid trading triangles with empty space, however, in this case the indication of the narrowing trading range is so clear, that a massive spike looks almost inevitable. Additionally, there is a clear ‘sell' signal from technical indicators, and keeping in mind strong resistance represented by 200-period SMA, the appreciation is unlikely. Moreover, fundamentals are speaking in
As EUR/AUD failed to sustain an upward momentum a month ago, it came under strong selling pressure. This has led to formation of the bearish channel that implies a ceiling at 1.48 (down-trend and 200-day SMA) and a target at 1.4450, on the condition that the currency pair breaks the support represented by the May 15 low.Nevertheless, most of the
Since the last time we looked at EUR/SEK, the Euro has made some progress and decoupled from the lower boundary of the channel. The currency has also breached the 200-period SMA, thereby reinforcing the bullish outlook. Accordingly, the pair is now targeting the upper rising trend-line at 9.23. However, there are some obstacles that have the potential to halt this
For more than a week started on May 21, CAD/JPY has been forming a channel up pattern that now is over 180-bar long. Currently the pair is appreciating, being underpinned by a recent jump from the 50-hour SMA at 93.70. However, to remain in the up-trend, the currency couple has to overcome a cluster of resistances at 93.77/4.08 (four-hour
Having reached a one-month high of 116.89 early May, the Swiss Franc commenced long-lasting depreciation against the Japanese Yen. While losing its value, the pair entered a downswing sloping corridor that now is 80-bar long. At the moment, the pair is trading not far away from a four-month low of 113.04 it hit on May 29 and given the overall bearish
The Euro has been in the down-trend versus its British counterpart since mid-March; however, the formation of the bearish channel started only about month later, on April 11. Now EUR/GBP is erasing gains it accumulated during a jump from a six-month low of 0.8083 hit a few days earlier. If the pair prolongs its slump, it is likely to fins some
Despite the fact EUR/USD breached the lower trend-line of the 150-bar long descending triangle pattern a day earlier, the most traded pair has not retreated farther than 20 pips from the pattern's support up to now. We may claim a two-month low of 1.3603 is acting as a strong support level that has been preventing the currency couple from a
The single currency has been under the pressure since the last ECB's meeting, while more pain for the Euro is expected from the part of fundamental analysis. Technicals are supporting this idea, as aggregate technical indicators on the 4H and daily chart as well as market sentiment are pointing at further depreciation of the single currency versus the Japanese Yen.
The GBP/JPY is struggling at the crucial level, represented by pattern's support. A move below 169.66 will mean a long period of depreciation, while in case of a pullback, the pair will continue fluctuating between two horizontal trade lines. Market sentiment is not clearly marked, while technicals are supporting the case for pair's depreciation. At the same time, statistically, a
Since April 14 the AUD/SGD currency pair has been fluctuating between two parallel trend lines. After a recent re-test of the support line at 1.1531, it is now bull's turn to push the price towards the upper trend line. While short– and medium-term aggregate technical indicators are neutral, we still can expect a move higher, at least to the weekly