The present situation in USD/TRY is reminiscent of the one currently being observed in USD/ZAR, where the currency pair is also forming an upward-sloping channel starting from Apr 10.Considering that USD/TRY is currently trading near the lower rising trend-line, the U.S. Dollar is expected to appreciate versus the Turkish Lira in the short run. However, the technical indicators at the
After a prolonged two-month decline the U.S. Dollar commenced a recovery on Apr 10 that still persists. Because of this USD/ZAR was able to form a bullish channel with the resistance at 10.6516 and the support at 10.4952. Right now the currency pair is testing the lower boundary of the pattern at the latter level, therefore the near-term bias towards
NZD/CAD is currently in consolidation following a February-March advancement and its trading range has been narrowing lately. As a result, there is a symmetrical triangle forming at the moment.Given that the currency pair has just bounced off the lower edge of the pattern, the New Zealand Dollar is expected to remain bullish at least until it meets the upper trend-line
After a massive sell-off that was observed between the first days of February and the middle of March USD/NOK encountered a tough support area near 5.90 that still remains intact. Accordingly, there is a significant probability of a double bottom emerging on the four-hour chart. Still, this would require the U.S. Dollar to breach the immediate obstacle at 6.00 and
A 194-bar long descending triangle pattern shaped by EUR/HKD originated at almost a two-month low of 10.6071. At the moment, the pair seems to have endeavored to repeat its attempt to breach the upper limit for the second time. The proximity of the apex coupled with the fact the pair is sitting close to the pattern's resistance signalize that the
USD/PLN now represents a lucrative opportunity for traders as the pair exited a 194-bar long ascending triangle two hours earlier that means an accelerating decline may lie ahead. The likelihood of a dive is high since the bearish scenario is supported by market players who bet on depreciation of USD/PLN in circa 70% of cases. To confirm traders' opinion, the
During more three months ended April 10, the Australian Dollar was appreciating against its U.S. counterpart. The pair halted the climb only after a jump to a six-month of 0.9463 high that pushed AUD/USD into a falling wedge pattern. Recently the currency couple has bounced off a two-week low of 0.9322 and now it is likely to witness a rise. This
There is a bullish channel emerging on the hourly chart of EUR/NZD. However, while the lower trend-line of the potential pattern is fairly reliable due to several confirmations, there are still questions regarding the upper boundary of the corridor.Meanwhile, there is a high probability the Euro is going to appreciate in the short term. Firstly, because of the majority of
Since mid-January volatility of EUR/HKD has been on the rise, as evidenced by formation of the ascending broadening wedge. Accordingly, being that the currency pair has just confirmed the rising support trend-line, the Euro is likely to continue advancement until it hits the upper boundary of the pattern at 10.9612. However, it must be noted that EUR/HKD will face tough
A symmetrical triangle was formed by CHF/JPY on a 4H chart. The pair has been trading in a narrowing range since December 27, however, during the last 41 bars the pair was trading around pattern's lower boundary. Despite bears determination to penetrate the support line, it is unlikely to happen and the pair will most likely, bounce back. While traders
The XAU/USD pair has been highly volatile just recently, losing more than 4200 pips on April 15. However, a massive sell-off was not strong enough, and the pair was not able to reach pattern's support. Usually, we recommend to avoid triangles with the unfilled gaps, however, this time, the pattern is approaching its apex point, which will be reached on
After a long-term depreciation that lasted for almost two months started early February, the U.S. Dollar gained some ground versus the Norwegian Krone. A drop to a one-month low of 5.9127 in the second week of April marked the commencement of the bullish formation-rising wedge. Currently, USD/NOK is trading within the pattern's limits and demonstrates no intention to exit this
The most traded currency couple has been forming a triangle pattern since April 9, the time when EUR/USD was on the rise after a plunge to a two-month low of 1.3673 in the very beginning of April. At the moment, the currency couple is on the brink of a bullish breakout as it has already surpassed the upper boundary
Being a subject to a strong bullish pressure, GBP/USD managed to attain a five-year high of 1.6839, close to which it is meandering now. According to the SWFX data, market players believe the pair has not exhausted its potential yet and may continue ascending in the hours to come; around two thirds of traders bet on appreciation of the currency
NZD/USD was advancing during two months ended April 2 when it touched a three-year high of 0.8746. Since then, the instrument has been forming a broad channel down pattern that now is almost a hundred-bar long. At the moment, the currency couple is sitting at the 50-hour SMA at 0.8624 but it is likely to bounce off this mark as over
The greenback has been steadily losing ground versus the Danish Krone since January 24, as the pair refused to climb above 5.54-mark. On April 4, bulls made an attempt to penetrate the upper trade line, however they were not strong enough, and the pair retreated back under the 200-period SMA. This time, the pair has a potential to at least
Gold's appreciation was one of the main topics for speculation during the last several months. The XAU/USD soared more than 20,757 during this year, however, the latest performance is suggesting the appreciation can come to an end soon. Market sentiment is not so strong, while technical indicators on a 4H and daily charts are pointing at pair's depreciation. Additionally, just
There is a 190-bar long channel up pattern emerging on the hourly chart of AUD/CAD. And in order to solidify this hypothesis, the currency pair needs to confirm the support at 1.0260. Considering that this potential demand zone consists of the up-trend line, weekly PP, 200-hour SMA and daily S1, the price should have no difficulties rebounding from it. The
The latest two attempts of USD/SGD to extend gains after a rally observed between Apr 11 and Apr 15 were stopped by the 200-hour SMA. As a result, there is now a double top pattern on the chart with a neck-line at 1.2521. If the currency pair manages to breach this level in the nearest future, the sell-off will be
A jump to a five-year high of 1.1279 provoked a sharp depreciation of the U.S. Dollar against the currency of the neighbouring country, with USD/CAD losing over 420 pips during three weeks. However, after a slid to a three-month low the pair managed to change its trend by entering a rising wedge pattern. At the moment of writing, the currency couple
A two-week rally that took CAD/JPY to more than a two-month high of 94.90 ended in the very beginning of April when the pair started an accelerating decline. The 88-bar long double bottom pattern being currently formed by the instrument also is a part of this long-lasting weakness. However, now the era of losses seems to have come to an end
The Euro demonstrated a similar strength against the Canadian Dollar as the U.S. currency did in mid-March. However, this time a rise from a two-month low helped the pair to shape a triangle pattern that now 100-bar long and has both quality and magnitude above average. Now EUR/CAD is unremittingly nearing the apex that will be reached later in the day.
Since early April when AUD/CHF attained a five-month high of 0.8325, the currency couple has been in the down-trend that led to formation of the steadily converging bearish corridor. At the moment, the pair is vacillating below the short- and long-term SMAs, albeit slightly. In the hours to come, AUD/CHF may attempt to break through its SMAs meandering close to
Since Mar 18 the trading range of NZD/USD has been widening. It has grown from 140 pips to as much as 220 pips during the last month. As a result, there is an ascending broadening wedge being formed on the four-hour chart.In the near term the kiwi is likely to be sold off, as the currency pair has just encountered