At the moment EUR/CHF is attempting to break out of the symmetrical triangle it has been actively forming since the beginning of January. The currency pair is eroding the upper edge of the pattern 1.22, which consists of the down-trend line and monthly PP. If it succeeds, the rally will most likely extend at least until 1.2250. There, however, the
Since late April, the single European currency has been in the down-trend versus the New Zealand Dollar and now there are no indications that the pair is willing to halt its depreciation in the forthcoming days. This is supported by various factors such as the SWFX sentiment-almost 56% of traders hold short positions and disposition of the SMAs-the short-term SMA
A decline to a one-month low of 1.0650 early May provoked a sharp appreciation of the Australian Dollar against its New Zealand counterpart and helped the pair to form a double top pattern. Although the pair now is on its way towards the neck-line at 1.0769 since the instrument has already commenced a retreat from the second peak, market players
A rise by AUD/SGD has been developing inside two diverging upward sloping lines; in other words, within the boundaries of the broadening rising wedge. At the moment, the currency couple is vacillating above the 50-bar SMA at 1.1696, albeit slightly and given a moderately bearish sentiment on the SWFX-circa 60% of traders bet on depreciation of the pair-we may expect
GBP/NZD entered a bullish channel shortly after a two-week retreat from a six-week high of 1.9766. Now the pair is sitting at the lower limit of the 103-bar long formation as the 200-hour SMA at 1.9549 is blocking the upswing. In the hours to come, the instrument may attempt to breach this formidable resistance that is likely to initiate a
USD/SGD has recently failed to climb above 1.26 and since then has been bearish, which in turn has led to formation of the downward channel. But in order for the pattern to prove its worth, the falling resistance line, currently at 1.2492 together with the weekly S1, is required to stay intact and force the price to go further south.However,
This year's rally, which was initiated just above the level of 0.94, was stopped by the resistance at 1.0333. However, the currency pair did not change its direction after the encounter and continued to trade between this level and the support at 1.0135, implying that there may potentially emerge a rectangle pattern. If this is the case, eventually AUD/CAD is
USD/ZAR is continuing a 384-bar long falling wedge pattern that originated at the highest mark since at least 2009 of 11.3895. Being constantly under a heavy selling pressure, the currency pair has been losing its value and now it is sitting near a six-month low of 10.3091. In the foreseeable future, we are not likely to see any changes in
In addition to limits of the channel up pattern restricting EUR/SEK moves since mid-February, the pair got trapped between its short-and log-term SMAs that locked EUR/SEK in 200-pips wide range. Considering the disposition of the SMAs - 50-bar SMA at 9.0472 is unremittingly moving down to the 200-hour SMA at 9.0262 - we may expect a ‘death cross' to appear
EUR/NOK eventually broke the chains represented by a 363-bar long falling wedge pattern. The breakout happened several hours earlier but a massive sell-off is still likely to lie ahead. After penetrating the lower limit of the pattern, the pair found support at a six-month low of 8.1468 that postponed a further drop. However, this line is expected to be
Since early May, the Australian Dollar has been in the up-trend against the Japanese Yen. The advance started close to a three-month low and has been developing inside two gradually diverging upward sloping lines. Several hours earlier, AUD/JPY neared the lower boundary of the corridor; however, a further slide is unlikely given a solid support pertaining to the 50-hour SMA at
Even though since the beginning of April each consecutive low was higher than the previous one, every new rally of CHF/SGD was capped by 1.4322, resulting in the end in emergence of an ascending triangle. However, the lower boundary of this pattern has already been broken to the downside, meaning the outlook on the Franc is bearish. The first target
As AUD/SGD found strong support in the face of 1.1561 on May 2, it was able to commence a robust recovery and eventually form a bullish channel. And while the short run is associated with downside risks due to a current downward correction from the upper trend-line, in the longer-term perspective the Australian Dollar is likely to continue to appreciate
EUR/GBP is currently trading in boundaries of two trade patterns, including the falling wedge and a descending triangle, both formed on a 4H chart. Keeping in mind lower trading volumes, and the fact both trend lines will converge in a couple of days, the pair is likely to be highly volatile soon. The outlook is bearish both from the perspective
On Thursday the USD/ZAR pair penetrated the important support line at 10.361. The sell-off was not a result of fundamental news, hence, the pair is currently driven purely by the technicals. And according to aggregate technical indicators, the pair will continue depreciating. Market sentiment is slightly bearish as well, despite the fact the greenback is bought in 71% of the
For more than a month started April 11, EUR/GBP has been unable to ascend significantly as any bullish moves have been blocked by a downward-sloping ceiling—a trend-line of the 101-bar long descending triangle pattern. At the moment, EUR/GBP is trading in a 17-pips wide range that will continue narrowing down in the hours to come. This signifies that the apex
The Australian Dollar started to lose ground against the currency of neighbouring country after it approached a two-month high of 1.0915 late April. The decline was developing inside a bearish corridor, the upper trend-line of which has been recently penetrated. The breakout was a part of a sharp rise underpinned by a jump above the 200-bar SMA at 1.0786. Now is
EUR/CAD was on the rise during more than a year ended in mid-March when the pair attained a five-year high of 1.5587 located at the upper-limit of the 341-bar long triangle pattern. Now the pair is vacillating not far away from the apex that is likely to be reached in about a week. This suggests that we may expect a
A triangle pattern formed by EUR/SGD had originated several weeks before the pair hit a three-year high of 1.7673 in mid-March. After reaching this peak, the pair was mostly tilted downwards; however, recently, the instrument managed to perform a toilsome climb and broken out of the 366-bar long formation. Considering the proximity of the apex-it will be reached on May
Being well-supported by 92.39, CAD/JPY managed to commence a recovery, which seems to be taking place within the boundaries of the upward-sloping channel. Accordingly, the Canadian Dollar is expected to move further away from the rising support trend-line located at 92.73 and aim for the rising resistance trend-line at 94.10.However, if the current bullish tendency persists, there is going to
EUR/SEK has been generally recovering since mid-February, which subsequently allowed it to form a bullish channel. However, just recently the currency pair has encountered the upper edge of the pattern, signalising a beginning of a bearish correction. Accordingly, the rally will be postponed and the sell-off is likely to extend, potentially down to the lower boundary of the corridor, namely
The U.S. Dollar started an accelerating decline against its Singapore's counterpart in the beginning of the spring. The drop has been developing within the boundaries of the 220-bar long channel down pattern that pushed USD/SDG to a six-month low of 1.2452 in the first days of April. At the moment, the pair is trading near the daily pivot point at 1.2483
After attaining a two-month low of 1,298.07 on April 24, gold changed its trend and entered an upward sloping corridor, inside which it is vacillating at the moment. Now the most traded metal is sitting not far away from a one-month high of 1,315.95 and is likely to re-approach this peak given that over 75% of market participants are bullish
A sharp retreat that followed a rally to a multiple-year high of 2.3915 performed by USD/TRY in the beginning of 2014 pushed the instrument into a bearish channel that now is 210-bar long. Since late April, USD/TRY has not touched the tunnel's limits; the pair has been simply balancing between small gains and losses. At the moment, there are no