A long-lasting decline performed by EUR/GBP started in mid-March when the currency pair hit a one-month high of 0.8401. After that, the pair has been in the down-trend; however, the drop became more distinct early April that pushed the pair into a bearish corridor.At the moment, the currency couple is sitting slightly below the 50-bar SMA at 0.8224. In the
As none of the U.S. Dollar's attempts to recover beyond 1.28 proved to be sustainable, the currency pair entered a negatively-sloped corridor. The bearish channel implies that the greenback will continue to underperform, as it is now capped by the falling resistance line at 1.2537, which is also strengthened by the weekly and monthly pivot points.Additional supply zone is near
At the beginning of March the bears started to overpower the bulls and forced a decline in the price. And even though there recently has been a bullish correction, which was initiated by the support at 2.8824, the down-trend resistance prevented further appreciation of EUR/TRY and thus preserved the bearish outlook.Accordingly, once the currency pair closes beneath the monthly S1
Since last year's November GBP/JPY has been in a distinct up-trend, covering the distance from 126 to 174. However, at the latter level it encountered a tough resistance that is not letting the currency pair to advance further. As a result, there is an ascending triangle on the chart and it is going to be broken in the nearest future,
Since the beginning of April the trading range of EUR/CHF has been narrowing, which has led to appearance of the symmetrical triangle. But the currency pair has just breached the pattern to the downside, meaning that the bias towards the Euro is negative.In the short-term, however, there is a good chance of a rally. The first target, namely Apr 28
Being that there is a seemingly impenetrable resistance at 0.83, which has proven that on several occasions recently, AUD/CHF had no other choice but to decline. As a result, the currency pair formed a bearish channel.Accordingly, the falling resistance line at 0.8184 should stay intact and continue to guide the Australian Dollar south. There is also an additional supply area
Late January the single European currency started depreciating relative to the Australian Dollar and subsequently formed a bearish channel. However, at the moment EUR/AUD has an upward momentum, as it has just confirmed the lower boundary of the pattern and turned around. Accordingly, the pair is expected to pierce through the nearby weekly pivot points and reach the upper trend-line
As this year's rally failed to advance beyond the Mar 20 high at 1.1278, USD/CAD entered a negatively-sloped trend. The currency pair has already given up more than 300 pips since then and it seems to be ready to cede ground even further.The reason for a bearish outlook is proximity to a strong resistance area around 1.0965, consisting of the
The weekly pivot points proved to be of great significance for GBP/NZD. First, the currency pair was well-supported by the weekly R1 at 1.9678. Then the price topped out at 1.9769, which is represented by the weekly R2. And at the moment the weekly PP acts as a reliable line in the sand, preventing every attempt of the Sterling to
As the level of 9.1392 turned out to be an insurmountable obstacle on Apr 21, EUR/SEK began trending downwards. And even though at the moment the currency pair is rallying, this up-move is considered to be only a temporary bullish correction within the boundaries of the negatively-sloped channel.Accordingly, the Euro is expected to make a U-turn at 9.0580, which is
There is a small version of the channel down pattern currently emerging on the hourly chart of USD/ZAR. However, despite its size (merely 30 bars) the trend-lines forming it have already proved to be topical on several occasions.Consequently, we may expect the U.S. Dollar to respect the resistance at 10.5336 and subsequently go down while targeting the falling trend-line at
The sell-off that began in the second part of March was stopped near 1.72, and since then the Euro has been generally appreciating relative to the Singapore Dollar, leading in the end to formation of the bullish channel. At the moment the currency pair is bearish, being that it has just confirmed the upper boundary of the pattern. Therefore the
The situation on CAD/JPY chart is very similar to the one currently observed on USD/CHF's graph. This currency pair has also been largely directionless since the beginning of April and it is now trying to escape this trading range. However, loonie's recent attempt to cross the Apr 29 high and weekly R3 did not succeed and the currency was sold
USD/CHF has remained range-bound for almost a month, and now it is forming a bullish channel. If the pattern is confirmed by a rebound from the potential up-trend support line at 0.88, there will be a good chance for the currency pair to reach the Apr 30 high at 0.8850 and then try to breach it. However, this resistance is
A similar pattern was formed by GBP/AUD– slightly more popular currency cross. Market sentiment is unclear and the number of buy and sell pending orders is equal, while technicals are mixed. According to signals from the tools of the technical analysis, the pair will climb back to the upper trend line, however, later the rally will be over, and the
A 310-bar long channel down was formed by USD/ZAR in late January, when the pair refused moving above 11.392. At the moment of writing the pair was changing hands at 10.549, just 881 pips below the upper trend line and 1288 from the recent high. The pair can make such a move in less than a week, as it lies
EUR/HKD has just escaped the boundaries of the triangle it was forming the past two months by breaking the lower trend-line of the figure. Therefore the bias with respect to the exchange rate is now bearish. The first target at 10.6990 has already been reached, but if the resistance near 10.7075 stands its ground, the price should eventually slide down
After a two-month non-stop rally that was observed earlier this year USD/RUB entered a consolidation phase as a result of a test of the formidable resistance just below the level of 37. Accordingly, there were more chances that eventually the currency pair was going to resume moving forward.However, the symmetrical triangle has recently been broken to the downside, meaning that
The formation of a 188-bar long triangle shaped by XAU/USD commenced at a six-month high of 1,389.73. While vacillating between the pattern's trend-lines, the yellow metal has been mainly tilted downwards and once it even dived well below the triangle's support line but managed to come back to the pattern shortly after the drop. At the moment, the most traded precious
Since the very beginning of 2014, the Great British Pound has been trading near a five-year high of 174.96. The latest part of the winning streak is represented by a 161-bar long ascending triangle. Now the pair is trading slightly below the lower trend-line of the formation; however, the breakout is likely to be false as two thirds of market players
A drop to a four-month low of 1.2452 early April provoked a change in USD/SGD trend. The advancement has been developing within the area bounded by two upward sloping lines; in other words, the pair shaped a channel up pattern. Recently, the currency couple penetrated the 50-hour SMA at 1.2562 and now the pair is sitting slightly above this line. If
The single European currency embarked upon appreciation against its northern peer early April when the pair plunged to a six-month low of 8.2026. Since then, EUR/NOK has been constantly rising and on April 16 it entered a bullish tunnel. At the moment, the pair is locked between its short-and long-term SMAs, with the 200-hour SMA at 8.2885 meandering below the instrument.
As AUD/USD failed to cross the resistance at 0.9461 three weeks ago, it came under strong selling pressure that still persists. Right now the currency pair is undergoing a bullish correction, but the rally is expected to end rather soon, near 0.93. There it will face the resistance represented by the weekly PP, 200-hour SMA and falling down-trend, and thus
Latest developments on the hourly chart of CAD/HKD confirm the descending triangle to be a continuation pattern. Before entering the formation the market was notably bullish, and only after the currency pair had covered three and a half figures, the resistance at 0.8160 managed to stop the appreciation and the figure was initiated. Accordingly, the risks were skewed in favour