After moving to the south since January 24, the GBP/AUD currency pair is now has a chance to end a more than 500-bar long rally to the downside. At the moment of writing, bulls were making an attempt to close above the upper trend line. However, they are facing a strong resistance around 1.8202, represented by a weekly R2. Aggregate
The U.S. currency is finally recovering. At least versus the Polish Zloty. The USD/PLN pair has been moving higher since May 8, when the pair moved below 3.00-mark. At the moment of writing the pair has been changing hands around the pattern's support line. However, keeping in mind 'buy' signals from technicals on the hourly and daily chart, the penetration
The British Pound halted its appreciation versus the New Zealand Dollar at a one-month high of 1.9763. Shortly after changing its trend, the pair entered a channel down pattern, inside which is has been locked since the last days of April. Now GBP/NZD is nearing the upper limit of the formation; however, it is uncertain whether the pair is strong enough
A sharp retreat from a two-month high of 173.50 early May became a part of the double bottom pattern shaped by GBP/JPY. At the moment, the pair is vacillating near the 50-bar SMA at 170.57 that is acting as a strong support level. If GBP/JPY manages to bounce off this level, it may recover previous losses by moving closer to the
Having reached a one-month high of 1.8589 late April, the British Pound commenced a retreat against its Canadian counterpart. The pair shaped a 170-bar long falling wedge pattern; however, now the downswing may have come to an end as GBP/CAD broke through the upper boundary nine hours earlier. A bullish breakout usually gives the pair an impetus for a climb
An 80-bar long triangle pattern formed by CAD/CHF represents a part of a sharp appreciation that took place after the instrument dived to a one-month low of 0.7957 late April. Earlier in the day, the pair approached the apex of the formation; however, up to now, we have not observed any notable changes in the pair's trend. CAD/CHF is still
At the moment NZD/USD is trading at the lower edge of the symmetrical triangle, meaning that the near-term outlook is bullish. But the currency pair will have to breach a combination of the weekly PP and 200-hour SMA in order to reach the upper trend-line at 0.8660, which is the key to further advancement of the New Zealand Dollar against
Following an unsuccessful attempt of AUD/JPY to sustain a rally above 96, the currency pair came under strong selling pressure. As a result, there is now a bearish channel emerging on the hourly chart. Accordingly, we are likely to see an extension of the dip from a cluster of resistances around 95.20 (weekly PP, 200-hour SMA) down to the level
It is a well-known fact that the Swiss Franc is pegged to the single currency. Therefore, pair's movement is limited by the pegged imposed by the SNB in 2011. Nevertheless, the pair can appreciate with no risks of intervention, and according to aggregate technical indicators on the 4H and daily charts, the movement to the north will continue. Furthermore, 73%
GBP/NZD has been moving sideways since June, and the recent depreciation is just a move to the lower part of the trading range. In a bigger picture there are two level to focus on– 2.0442 and 1.8873. Until the pair fluctuates between them, the outlook will remain neutral. According to technical indicators, the pair is first likely to hit pattern's
For the past 12 months the Swiss Franc has been generally appreciating relative to the Singapore Dollar, which allowed the currency pair to form a high-quality bullish channel. And while the upper boundary of the pattern has recently been confirmed (Mar 13), the lower edge is yet to prove its reliability as the support. However, the downside risks have increased,
A decline from a four-year high of 6.3151 hit by USD/NOK early February led to formation of the 218-bar long channel down pattern. USD/NOK is likely to extend its losing streak in the hours to come, taking into account the SWFX sentiment- more than 76% of all orders are placed to sell the pair. If this comes true, the pair may
The Euro has been depreciating against the New Zealand Dollar since late December when it rose to a five-month high of 1.7004. At the moment, the pair is trading within one of the bearish formations-channel down pattern. The instrument entered the corridor in the last days of April and is not likely to exit it soon. In the foreseeable future,
After reaching a two-month high of 1.2794, the U.S. Dollar embarked upon a long-lasting retreat against its Singapore's counterpart. During the period of weakness, the pair started to form a double bottom pattern that now is circa 220-bar long. Early May, USD/SGD bounced off a one-month low of 1.2452; however, it has not attained the neck-line at 1.2596 yet. The reason
EUR/SEK attained a three-year high of 9.1393 late April and since then the pair has been in the downtrend. The decline that is taking place inside a gradually converging downward-sloping channel sent the EUR/SEK to a one-month low of 8.9682 in mid –May. Now the pair is sitting well-above the recent low; however, a further advancement is constrained by the 50-hour
As the bullish momentum of GBP/AUD seen in the second half of April could not handle the resistance at 1.83, the market is now bearish. However, instead of fluctuations between two parallel trend-lines, the trading range of the currency pair was constantly widening. Accordingly, there is now a strong case for the descending broadening wedge, which is generally considered to
Although the first days of May were bearish for EUR/CHF, the support around 1.2172 managed to prevent further depreciation of the Euro and subsequently initiated a strong recovery. As a result, the currency pair has formed an upward channel with the support at 1.2205 and the resistance at 1.2232, meaning the outlook is now positive.The technical indicators, especially on the
A 219-bar long double bottom has been formed by USD/SGD on March 20. Aggregate indicators are suggesting the short-term outlook is bullish, however, keeping in mind several unsuccessful attempts to penetrate the 200-period SMA, as well as ‘sell' signals from technicals on the daily and weekly chart, a move above 1.2533 is unlikely. Therefore, the pair has a potential to
Gold has been depreciating versus the greenback since March, and the fact the falling wedge on the 4H chart is 222-bar long speaks in favour of the strong downtrend. The trading range is narrowing, however, it is too early to speak about the breakout. Currently, the pair is bounded by a weekly pivot at 1,292.54 from the downside and daily
The U.S. Dollar has been weak compared to its Asian counterpart since mid-March. One of the bearish formations that developed throughout this slide is double bottom pattern. The pattern originated early May and now is almost 180-bar long. After a stab to a seven-month low of 7.7515, USD/HKD has been moving towards the neck-line at 7.7525. However, there are a
A short, only 55-bar long, channel down pattern is now being formed by EUR/JPY. The formation is notably tilted downwards thus prompting the pair to extend its losses. For example, recently the pair has attained a three-month low of 138.97. Now the instrument is retreating after a short-lived advance to the upper-limit; this may sent the pair again to the recent
Again we see the same pair but another formation. This time it is AUD/NZD that formed a 262-bar long channel up pattern on the four-hour chart. At the moment, the pair is trading in approximately equal distance from both trend-lines. In particular, the instrument is sitting slightly above its short- and long-term SMAs meandering at 1.0814. Given that the 50-bar SMA
A day earlier, we have examined a channel down pattern shaped by EUR/SEK. Today we will focus on another formation-triangle formed by the same instrument. The currency pair entered the pattern shortly after it touched a three-year high of 9.1400 and was locked between its trend-lines until May 13 when it breached the lower limit of the formation. However, this
After a failure at 1.9189 at the end of January GBP/AUD started to trade in a down-trend. And while at a first glance it may look like a bearish channel, the trading range has been narrowing since, from eight and a half figures to six and a half, implying that the emerging pattern is a falling wedge. Accordingly, eventually the