Despite the fact the greenback is bought in 66% of the cases and Danish Krone is sold in 70% of the time, USD/DKK has been losing ground since February 3rd, when the pair formed a channel down pattern. According to technical indicators, the pair will move sideways for some time before moving lower. In case pair fails to move below
Judging by the past 240 bars, AUD/CHF seems to be respecting two converging trend-lines, suggesting there is a symmetrical triangle being currently formed. Just recently the currency pair has bounced off the lower edge of the pattern and is now headed towards the resistance at 0.7982, which is reinforced by the 200-period SMA and is therefore likely to stop Aussie's
Late last year AUD/CAD bottomed out near 0.94 and since then has been in a distinct up-trend. However, it must be noted that at the same time the trading range has been gradually narrowing, meaning the currency pair has been forming a rising wedge since the beginning of 2014.Accordingly, there is a growing probability that the lower boundary of the
Following a protracted November-January rally, the trading range of USD/SGD started to narrow. As a result, the currency pair formed a symmetrical triangle with the downtrend resistance at 1.2684 and the up-trend support at 1.2614.However, given that the price has already reached the apex of the pattern, there is a high probability of a break-out in the nearest future. Considering
The most popular currency couple is continuing its appreciation that was started early February. EUR/USD is locked within the bullish corridor that is helping the pair to reach record highs. Recently, EUR/USD has touched a two-year high of 1.3968 and despite retreating slightly during the last 11 hours, it may try to re-approach this high given that almost two thirds
After a drop to a one-year low of 0.8158 in mid-February, the Euro reversed its trend against the British Pound. During the next two weeks, the advance was mild; however, first days of spring gave the pair an impetus for a sharper appreciation that took place in the 181-bar long channel up pattern. Now the pair is on the verge
Having attained a two-month high of 0.9156, USD/CHF has been retreating; early March the downswing became more distinct and the pair started to form a channel down pattern that now is over 150-bar long. While trading within two downward-sloping lines, the pair reached a two-year low of 0.8700, not far away from which it is vacillating at the moment. However,
Since the very beginning of 2014, the New Zealand Dollar has been gradually appreciating against its Canadian peer and early March the pair embarked upon formation of the channel up pattern that pushed the currency couple to the highest level since at least 2008 of 0.9524. Currently, the pair is trading near its 50-hour SMA at 0.6475 that lies slightly below
While against the Kiwi, Australian currency is constantly falling, versus the Japanese Yen we can observe a sideways movement for the last half of the year. Pair's further performance cannot be predicted so easily, as technical indicators on a 4H and weekly charts are sending ‘sell' signals, while market sentiment is 69% bullish. Nevertheless, a move to pattern's support will
The Aussie has been steadily losing ground versus the Kiwi for almost a year, and at the moment of writing the AUD/NZD pair was just 85 pips from the vital support level at 1.0492. Despite pair's steep rally, technical indicators are still pointing at pair's further depreciation. The main reason for such a movement is strong fundamental data from New
Starting from the second part of February the trading range of AUD/SGD has been constantly widening, which has eventually led to formation of an ascending broadening wedge. This pattern implies resistance at 1.16 and support at 1.1330. And even though the currency pair has recently rebounded from the lower boundary of the wedge, the Aussie does not seem to be
As USD/CAD was unable to advance beyond the resistance at 1.12 (late January and late February), the currency pair got trapped between this level and the horizontal support line at 1.0930. Still, as suggested by the weekly technical indicators, eventually the U.S. Dollar is likely to breach this obstacle and resume a rally.In the meantime, the exchange rate seems to
A pair of two European currencies, EUR/SEK, was shaping a 454-bar long descending triangle during more than a month ended March 12 when the pair finally breached the upper-limit of the triangle. However, the jump above this mark as well as above 50-and 200-hour SMAs seems to have exhausted the pair's potential since the bullish breakout took place seven hours
After climbing to a record high of 3.2739 late January, the Euro lost some value versus the Turkish Lira but most losses were recovered when the pair reversed its trend and started to form a bullish tunnel. At the moment, the currency pair is vacillating slightly below a five-week high of 3.1295 and it is not expected to regain the
The first months of 2014 were positive for gold that lost almost 30% in the preceding year. Since the second part of January, the advance performed by XAU/USD has been developing within the area bounded by two upward-sloping lines that pushed the yellow metal on the brink of a seven-month high a few hours earlier. Considering traders' mood, a rally
During two weeks ended February 18, the British Pound was on the rise against the U.S. Dollar; the rally was halted at a five-year high of 1.6822 that acted as a peak of the 137-bar long double bottom pattern. Now GBP/USD is faltering between its 50-and 200-bar SMA, with the long-term SMA sitting close to the neck-line at 1.6589 and
A similar situation as with USD/DKK can be observed on CAD/CHF. The pair is also trading right at the level of pattern's support, while aggregate indicators are neutral. At the same time, 64% of traders are having bullish outlook on the pair, while vast majority of pending orders (75%) are placed to sell the pair. Therefore, it is rather difficult
After peaking at 5.8487 in July, the greenback has began losing its ground versus the Danish Krone. While a 1650-pip move during January was adding to signs the depreciation is over, a formation of the channel down is pointing to another steep decline. At the moment of writing the pair was trading almost at pattern's lower boundary, and a
The rally seen early March has proven to be unsustainable. After CAD/JPY topped out just above 94, it came under strong and persistent selling pressure, as a result of which the currency pair has already given up two figures and may still decline even more.The downside risks are especially explicit in the near-term, being that the loonie is presently trading
At the end of the last year AUD/CHF refused to follow the bearish tendency, which originated back in the spring of 2013. A month later the currency pair tried to recover, but eventually the bullish momentum subsided, leaving us with a symmetrical triangle.A similar formation was developing between last year's August and November and in the end it did not
In the second part of February when tensions between Russia and western powers started to escalate amid confrontation in Ukraine, a sharp appreciation of the U.S. Dollar against the Russian Ruble started and helped the pair to form a channel up pattern, within which it is vacillating at the moment. The tunnel is relatively steep and has recently sent the
After EUR/SGD hit a two-month low of 1.7099 early February, it got an impetus for a climb and in the first days of spring it started to shape an ascending triangle pattern of high quality and magnitude that now is 166-bar long. However, the pair is unlikely to add some bars to the pattern since it rose above the pattern's
The most popular currency pair is heading for the best run of gains since November 2013. The advance has been developing within the trend-lines of a 150-bar long channel up pattern that originated at a two-month low of 1.3476. Now the currency couple is trading at a three-year high of 1.3948 and considering that it has already breached the daily
Early March the U.S. Dollar commenced a rebound from a one-month low of 101.20 against the Japanese Yen; however, the advance was halted at an eight-week high of 103.76. Since then, the pair has been declining, being trapped by boundaries of a 74-bar long bearish channel. At the moment the currency couple is trading slightly below the daily pivot point at