Similarly to EUR/USD, EUR/HKD is also forming an upward-sloping channel on the hourly chart. A week ago the currency pair hit a rock bottom near 10.60 and since then has been generally moving north while fluctuating between two parallel rising lines.Accordingly, the Euro is expected to find support near the up-trend line at 10.7679 and carry on with the rally.
Since the end of February EUR/NZD has been in the down-trend. This allowed the currency pair to form a bearish channel with the resistance line at 1.6117 (reinforced by the weekly and daily R1 levels) and with the support line at 1.56.Being that the formation itself assumes a prolonged decline and at the moment the price is fluctuating in the
Despite being bounded by the trend-lines of ascending triangle pattern originated on April 2, EUR/DKK performed several unnaturally wide swings that nevertheless failed to lead to the breakout. Now the pair is trading very close to the apex that will be attained in several hours, suggesting that the real breakout lies ahead. Currently, the pair is sitting right below the
A 272-bar long bearish, gradually narrowing tunnel caught GBP/NZD late January when the pair approached a two-year high of 2.0443. Since then the Great British Pound has been losing its value relative to its overseas counterpart; however, the pair may change direction soon as it broke though the pattern's resistance, meaning that the breakout might have happened. Market sentiment supports
The yellow metal is prolonging its winning streak started in the very beginning of April when XAU/USD reversed its trend after a two-week decline from the seven –month high of 1,389.86 attained in mid-March. Now the climb is developing between two upward sloping and gradually diverging lines which form a 93-bar long broadening rising wedge pattern. In the hours to come,
Since early April the single European currency has been steadily depreciating against the Japanese Yen. The decline started at a one-month high of 143.50 hit on April 2 and already on April 7 the pair entered a 72-bar long triangle pattern. At the moment, the pair is on the edge of a bullish breakout since it breached the upper limit of
As the 200-hour SMA failed to keep USD/PLN afloat a few days ago, the currency pair was able to develop a bearish channel. Right now, however, the U.S. Dollar is undergoing an upward correction. But the rally is expected to come to an end in the nearest future, presumably in the region of the upper falling resistance line at 3.0125.
This week EUR/USD is bullish with respect to the U.S. Dollar. The currency pair has already gained 170 pips and seems to be ready to extend the rally even further. This is evidenced by the emerging upward-sloping channel. The pattern implies that the rate will not fall beneath the support at 1.3831, but instead will target the upper boundary of
The single currency has been losing ground versus the Singapore Dollar since March 19. The general trend is still bullish, however, it will be extremely difficult to climb above the recent high at 1.7673. While market sentiment (73%) and aggregate technical indicators on a daily chart are sending ‘sell' signals, the outlook is bullish. This idea will be confirmed only
Both kiwi and loonie were one of the top-performers during the last several weeks. Nonetheless, it seems that New Zealand currency was the main driver for the NZD/CAD pair. Since the beginning of the pattern the pair has rocketed more than 1000 pips, however, later, the pair moved back to the lower boundary. Despite approaching pattern's support, the pair was
Like in the previous case, the Aussie demonstrated its strength but this time to the Canadian Dollar. The Australian Dollar has been gradually appreciating versus its Canadian peer since the very beginning of April when the pair entered a bullish formation, channel up pattern. Currently, the pair is trading near a 10-day high of 1.0272 and given that over two-thirds
A jump to a two-month high of 1.2794 in the second part of March marked the beginning of the long-lasting downswing that sent USD/SGD to a seven-month low of 1.2453 hit on April 10. Being a subject to a heavy selling pressure, the pair did not surprise anybody by forming a bearish tunnel, within which it is sitting at the
The spring turned to be a time of a new beginning for AUD/JPY that reversed its trend early March and since then has been unremittingly moving higher. The climb has been developing within the limits of the bullish tunnel and now is around 152-bar long. At the moment, AUD/JPY is sitting at the 50-bar SMA at 95.75 and is likely to
Having hit a one-month high of 7.7677 in mid-March, USD/HKD followed a bearish trend and started to shape a double bottom pattern early April. Now the pair is on the rise as a plunge to a six-month low of 7.7530 one day earlier helped the instrument to change its direction. Meanwhile, the currency couple is located not far away from
CHF/JPY is likely to be highly volatile soon, as the pattern is approaching the apex point, while just recently bears made an attempt to penetrate the support line. Despite the move back into pattern's boundaries, technicals on the 4H chart are sending ‘sell' signals, pointing at pair's further depreciation. In a longer-term, the pair is likely to move sideways, as
The greenback has been steadily appreciating versus the Swedish Krone since March 18. Since then the pair has gained moved higher 2300 pips. The rally, however, can be running out steam, as recently bears made an attempt to close below the lower trend line, but the attempt was unsuccessful and the price moved back into pattern's boundaries. Nonetheless, we can
A precipitous 270-pip decline that took place last week was followed by a long consolidation phase. As a result, there is a symmetrical triangle emerging on the hourly chart of EUR/CAD. Accordingly, there is a good chance that the up-trend support line (currently at 1.5039) is going to eventually give in to the downward pressure and allow further extension of
GBP/AUD peaked at 1.9190 in January and since then the currency pair has generally been in decline. And while it may be too early to claim that there is a fully formed falling wedge pattern, the possibility of this being true is fairly high if we connect the most recent tops and bottoms.Leaving long-term perspectives aside, the outlook in the
Thanks to a support lent to NZD/USD by a steep bullish tunnel, the pair managed to attain a three-year high of 0.8711, close to which it is trading now. The pattern, despite being relatively short, only 53-bar long, has both quality and magnitude above average, adding to probability that it will continue to push the pair higher. Currently, the SWFX numbers
The Euro has been gradually retreating versus the British Pound since the second part of March when the pair hit a six-month high of 0.8401. While being in the down-trend, the currency couple embarked upon formation of the falling wedge pattern that now is 81-bar long. At the moment, EUR/GBP is vacillating near a one-month low of 0.8233 and is likely
Having reached a one-month high of 4.2503, the Euro commenced depreciation against its Polish counterpart; the decline took place amid development of the double bottom pattern that sent the pair to a one-month low of 4.1575. At the moment, EUR/PLN is on its way towards the neck-line at 4.1812, a jump above which is likely to create a strong bullish pressure
The current gold's uptrend followed a two-week decline started in mid-March when the bullion approached a seven-month high of 1,390.54. At a time when the upswing commenced gold started to shape a rising wedge pattern that now is over 90-bar long. The most traded precious metal is likely to prolong its winning streak in the hours to come given that more
The AUD/JPY pair has been moving in a sideways trend since late October, however just recently bulls managed to push the pair higher. This year's high stands at 96.519 now, however, the rally seems to pause for a while, as the pair retreated back to daily S1 at 95.220. Moreover, the depreciation is likely to continue soon, as indicators on
The pair rallied in August 2013 and hit 1.8672 on February 21. That was the highest level since 2009, while the next key target for long traders is located at 1.9218. The pair received a strong bullish bias on Tuesday, climbing to a weekly PP at 1.8278. A move above it will put daily R2 and pattern's resistance at 1.8327