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
The upward momentum of AUD/SGD is weakening, since the current pace of Aussie's appreciation is slower than the tempo seen at the very beginning of May. However, the currency pair formed a bullish channel, meaning it is likely to continue the trend. In order to confirm the pattern the rate needs to rebound from the lower rising trend-line at 1.1710
The overall interest to the Aussie is waning, while Japanese Yen has received a strong bullish bias from the fundamental data. The AUD/JPY currency pair has been fluctuating around pattern's support since May 5. Strong GDP figures from Japan were able to pushed the pair from weekly R1 to the 200-period SMA, and according to technicals on the 4H chart,
A 218-bar long channel down has been form by USD/NOK on March 20, when the pair refused climbing above 6.08. Just recently the pair tried to penetrate the lower trend line, however, traders are optimistic on the pair and managed to push it almost to the 200-period SMA. Moreover, 70% of traders are holding long positions, suggesting bulls will be
AUD/USD failed to settle above a five-month high of 0.9481 reached early April; this initiated a downturn that was in place until the first days of May when the pair embarked on formation of the bullish corridor. Up to now, AUD/USD has not re-approached the recent high but it may succeed in the following days as a bullish incline of the
The U.S. Dollar has been appreciating versus the Singapore's Dollar for one week. During this period, the pair managed to shape a 105-bar long channel up pattern that locked USD/SGD into circa 60-pips wide trading range. USD/SGD currently is sitting slightly above the 50-hour SMA that meanders at 1.2509. The pair is likely to use the short-term SMA as a prop
A drop to a one-month low of 1.0652 incited a sharp appreciation of the Australian Dollar against its New Zealand peer. This climb took the pair to a three-week high of 1.0880, the level near which AUD/NZD peaked for three times thus forming a triple top pattern. Now the pair is strongly tilted downwards as it has recently plunged below the
After a rise to a three-year high of 9.1393, the Euro started to lose ground against the Swedish Krona. The pair has been in the down-trend since late April and early May it entered a channel down pattern. At the moment, the currency couple is attempting to overcome the 50-hour SMA at 8.9915 that prevents the pair from increasing the distance
Because of a tough resistance at 1.7436, which EUR/SGD was unable to breach on several occasions, the pair had no other choice but to decline. As a result, there is now a downward-sloping channel on the hourly chart being formed, and the pattern can be seen on almost every cross of the Euro. Consequently, the currency is likely to cede