During the last 100 hours the Australian Dollar has been generally outperforming the Swiss Franc, which resulted in emergence of an upward-sloping channel. This implies the support and resistance areas at 0.8086 and 0.8148 respectively. However, the latter level is currently being tested and it needs to prevent additional appreciation of the Aussie in order to confirm validity of the
If we analyse the last 180 bars on the four-hour chart of EUR/CAD, we may come to a conclusion that the currency pair is currently forming a bullish channel. Given that this supposition is true, the Euro should turn around before hitting the long-term moving average, namely at the up-trend support line at 1.5353, which is presently reinforced by the
As EUR/NZD proved to be unable to advance beyond the resistance at 1.6673 late February, it started to decline. Eventually, the currency couple formed a downward-sloping channel, since it was consistently respecting two parallel falling trend-lines. However, the upper edge of the pattern still appears to be unreliable, but the fact that it is strengthened by the 200-period SMA increases
EUR/SGD commenced a robust recovery early February, when it bottomed out at 1.71. Later on the rally developed into a bullish channel, which is now more than 200 bars long. Right now the currency pair is testing the lower boundary of the pattern at 1.7530, which needs to withstand selling pressure in order for the outlook to remain positive, then
The single currency has been appreciating against the Sterling since February 17, when the pair hit 0.8158. The pair performed a 240-pip rally, however, bulls are still not strong enough to move above weekly R1 at 0.8401. Therefore, it can be considered as a key level for long traders in the nearest future. Aggregate technical indicators, however, are sending ‘buy'
All kinds of triangles are highly attractive for traders, as all they have to do is to wait for a breakout. On March 20 bulls already made an attempt to penetrate pattern's resistance, however, that was only a throwback. Nonetheless, the outlook is bullish, keeping in mind the strength of the U.S. Dollar, a bullish throwback and ‘buy' signals from
A very steep but relatively short channel up pattern was shaped by AUD/USD on the one-hour chart. The rally aided the pair to add more than 150 pips in less than a week; AUD/USD peaked at a four-month high of 0.9159 on March 24. Having reached this high, the currency pair failed to prolong the run of gains and retreated
After trading near a five-year high of 1.6824 during more than a month ended on March, GBP/USD commenced to pare gains and on March 13 the pair entered a bearish corridor that sent it to more a one-month low of 1.6460. Now the pair is vacillating close to the 50-hour SMA at 1.6490 and may trade sideways in the foreseeable future
A slump to a two-week low of 101.20 provoked a sharp rally of the U.S. Dollar versus the Japan's currency. The following moves of the pair were developing in the labyrinth of a double top pattern of average magnitude and quality. Currently, the pair is struggling with the downside pressure in an attempt to consolidate above the short-term SMA
The ascending triangle pattern formed by EUR/CHF is around 218-bar long but is not likely to be prolonged in the hours to come as recently the pair has breached the lower limit of the formation. Given the proximity of the apex as well as moderately bearish market sentiment-circa 53% of all orders at the SWFX are short- the
Another triangle was formed by EUR/SEK on February 12 when the pair refused moving above important psychological level of 9.00. When having a look at the historic performance, we see that the pair has been experiencing difficulties around the 200-period SMA, where it stuck right now. Therefore, a move above it will be a bullish signal, while a dip
All kinds of triangles are highly attractive for traders, as when trend lines converge the price is highly volatile. Hence, traders can make substantial profit in a short period of time. EUR/PLN is not trading in boundaries of the triangle anymore, however, we have not received a confirmation from the trading volume, hence, it can be a formation of the
NZD/CAD has been in the up-trend for quite some time, but it seems to be respecting new rising lines. And while the upper one creates potential selling area at 0.988, the currency pair is testing the lower one at 0.9562, which needs to withstand the current selling pressure and direct the rate north.Conversely, if it gives in instead, the kiwi
Initiation of the rising broadening wedge on the four-hour chart of NZD/USD dates back to three weeks ago, when the currency pair resumed advancement after a consolidation. Since then volatility of the exchange rate, represented by the trading range, has been increasing, but the price has still been respecting the up-trend lines. In fact, it is currently testing the lower
A surge that was initiated in the beginning of 2013's second quarter has eventually transformed into a rising wedge. Given the nature of the pattern, this means the possibility of a reversal is currently increasing. If the up-trend support line at 1.5136 fails to trigger strong buying, EUR/AUD will be expected to stage a precipitous decline with the first target
EUR/TRY failed to extend the early March rally and instead started forming a bearish channel, which is already more than 150 bars long. Right now the pair is moving towards the upper falling trend-line of the pattern (reinforced by the 200-hour SMA), meaning the latest bullish tendency is highly likely to change in the nearest future and give way for
For the past five trading days GBP/CAD seems to have been trading between two parallel rising trend-lines. For this assumption to prove to be true, the currency pair needs to rebound from the support near 1.85 (200-hour SMA, weekly PP and up-trend); most of the technical indicators favour such a course of events. Then the price will be expected to
After hitting the highest level since June 2012 on January 31 the pair began moving lower, forming a channel down pattern. This week, the pair touched pattern's lower boundary for the first time since February 12. Moreover, technical indicators on a 4H and daily chart are sending ‘sell's signals, suggesting there will be another attempt to penetrate pattern's support. Dukascopy
The Aussie has been appreciating versus the Singapore Dollar since late January. What is more important, it the fact each new high was higher than the previous one. Moreover, the pair managed to penetrate pattern's resistance this week, and even though the pair moved back into pattern's boundaries, the outlook is bullish. This idea is supported by technicals on a
By looking at the past 100 days, we may assume that GBP/USD is currently trading between two parallel rising trend-lines, in other words within the boundaries implied by a channel up pattern.Accordingly, a rebound from the support at 1.6392 will confirm this hypothesis and we will be expecting the rally to extend through the monthly pivot point at 1.6608 up
For the last five trading days the Swiss Franc has been generally underperforming relative to the Japanese Yen.However, instead of a bearish channel, there emerged a falling wedge pattern. Accordingly, there is an increasing probability of a reversal occurring in the nearest future. For this to take place, however, CHF/JPY will have to break a tough resistance area at 116.29.
As it was discussed above, the Australian Dollar is enjoying a rally against most of its peers and the Euro is not an exception. EUR/AUD has been locked in the bearish corridor since the mid-March and it is not likely to break the chains in the days to come since there are no indications that the pair is either
The single European currency has been gaining versus the Singapore Dollar for more than a month started February 6. The currency pair formed a 154-bar long channel up pattern on the four-hour chart and now EUR/SGD is vacillating slightly below a three-year high of 1.7676 reached on March 12. More precisely, the pair is sitting at its 50-bar SMA at
The British Pound has been tilted downwards against its Australian peer since the beginning of the spring; however, a formation of the broadening wedge pattern started only in mid-March when the pair performed an unsuccessful attempt to consolidate above the 200-hour SMA. At the moment, the pair is gradually retreating as a drop below the 50-hour SMA at 1.8274 added some