The New Zealand Dollar has been tilted upwards versus its U.S. peer amid a slew of negative data from the world's biggest economy last week. The pair has been appreciating for the last 65 hours that has led to a formation of the channel up pattern on February 20. Despite being locked in a bullish tunnel, NZD/USD is not likely
GBP/JPY has been gradually climbing following a slump to a three-month low of 163.90 early February that took place after the currency couple started to form an ascending triangle pattern. GBP/JPY is currently nearing the apex that is a sign of a looming breakout. However, now it seems too early to be sure about when the real breakout will occur.
As soon as USD/DKK approached 5.54, it came under strong selling pressure that forced the currency pair to go all the way down to 5.42 within a month. However, given that the trading range has been narrowing during that period, the rate seems to have formed a falling wedge pattern.Accordingly, there is an elevated probability that the down-trend resistance line,
Being underpinned by the 200-period SMA, CHF/SGD managed to resume the recovery after a prolonged period of stagnation. However, it remains to be seen, whether this rally is sustainable in the longer term. As the most recent peaks near 1.44 are still intact and the rising wedge pattern implies a reversal, there is a good chance that the latest gains
Once the currency pair completed a consolidation phase last year in October, HKD/JPY resumed the recovery. Later on this bullish tendency developed into an upward-sloping channel with the main resistance at 13.9725, where it is reinforced by the monthly R3 level, and the support at 13.1105, which is reinforced by an additional demand area at 12.9793, where the monthly S1
A 283-bar long channel up formed by the most popular currency pair originated at a two-month low of 1.3476 in the very beginning of February. EUR/USD has recently recovered a part of its previous losses, climbing to a one-month high of 1.3773, not far away from which it is trading now. EUR/USD is not expected to change its direction in the
A retreat from a five-year high of 1.5834 was steep enough to send EUR/AUD to a three-month low of 1.4986 in less than a month. However, the pair was unwilling to extent losses after a slump to this low and initiated a recovery that took place within the boundaries of 151-bar long rising wedge. At the moment, the pair is vacillating
The single European currency has been following bullish trend against the Norwegian Krone for more than a hundred hours. The climb has been developing within the area restricted by two upward sloping and gradually diverging lines, in other words, EUR/NOK shaped a broadening rising wedge pattern. Now the pair is sitting at the lower limit of the pattern at 8.3442 and
Since the beginning of the year, the yellow metal has been gradually appreciating and in the first days of February it embarked on formation of the channel up pattern that now is 264-bar long. While being locked in the bullish tunnel, the most traded precious metal managed to attain more than a three-month high of $1,332.64 but now gold is
A channel down pattern on the four-hour chart of CAD/CHF bears a striking resemblance to the bearish corridor observed on the Euro-Swissie chart. However, signals of the technical indicators, especially on the shorter-term time-frames, and sentiment of the traders are different. Still, here the Swiss Franc is also expected to outperform its counterpart and pull loonie's price down to 0.78.
EUR/CHF rallied in the second half of December, but was stopped by the resistance at 1.24. Since then the currency pair has been forming a bearish channel by respecting two parallel downward-sloping trend-lines.For the past two days the price has been clinging to the upper boundary of the pattern and refused to leave its vicinity. Nonetheless, as long as the
A rally that was initiated on Feb 5 was stopped 100 hours ago, when GBP/USD topped out at 1.6823. And even though since then the currency pair was well-underpinned by the horizontal support level at 1.6637, its every consecutive high was lower than the preceding peak, resulting eventually in appearance of the descending triangle.However, being that this pattern implies continuation
During the last 50 hours USD/SGD's trading range has been narrowing, as the currency pair proved to be unable to cross the resistance level at 1.2664, but at the same time each new low was higher than the previous one. If the price breaks out of the pattern to the upside, as suggested by the near-term technical indicators, the U.S.
Similarly to NZD/CAD, Euro-loonie has also been consistently respecting two parallel rising trend-lines lately. And, judging by the technical studies and the fact that EUR/CAD is presently near the dense demand zone at 1.5037 (weekly PP; 200-period SMA; up-trend), the bias towards this currency pair is strongly bullish as well, since it may reach a level of 1.57 in the
Already since the beginning of last year's summer NZD/CAD has been preserving propensity to advance. However, it is the last 300 bars that are currently of particular interest to us, since they constitute a bullish channel. Right now the pair is trading at the lower boundary of this upward-sloping corridor, which is strengthened by the 200-period SMA and the monthly
Being that an up-move observed in the first half of February has already twice failed at the level of 93, we may assume that AUD/JPY has formed a double top pattern that in turn increases the chance of a sharp decline in the nearest future. This pattern also implies a neck-line at 91.12, which needs to be breached for the
After the currency pair received strong bullish impetus from the 200-hour SMA on Feb 12, it has remained in the up-trend and formed an upward-sloping channel.However, being that the upper rising trend-line has been confirmed only on few occasions, unlike the lower one, which has already proved to be reliable, there is still a possibility that CHF/JPY may be trading
For the past 60 hours the single European currency has been generally outperforming the British Pound, resulting in formation of the upward-sloping channel. Given that the rising support line at 0.8230 was confirmed by the market and many of the four-hour technical indicators are bullish, EUR/GBP is likely to move further north. However, at the moment the currency pair is
Initially, it seemed that GBP/AUD was going to continue fluctuating within the boundaries of the bullish channel, as the lower up-trend line proved to be quite formidable. However, eventually the bears took the upper hand, mainly because of the back-up from negative fundamentals, and forced the support at 1.8516 to give in to the selling pressure.The currency pair has already
The U.K. currency has been trading at elevated levels against the Canadian Dollar since mid-January. Recently, GBP/CAD has attained the highest level since at least 2009 of 1.8442 and now it is vacillating slightly below this peak at 1.8254 that is located at the lower boundary of the triangle pattern formed on February 14. However, the pair is likely to
A recovery of GBP/JPY started after the slump to a two-month low of 163.87 that took place in early February; however, the pair entered a bullish channel only few days later as ‘golden cross' gave the pair additional impetus for a climb. Now the pair is trading slightly below the lower trend-line of the pattern as the 50-hour SMA at 170.71
Having approached a five-month high of 3.1624 early February, the U.S. Dollar started to lose ground against the Polish Zloty. Several days later, the pair embarked on formation of the bearish corridor that now is 150-bar long and is likely to become even longer as the pair seems to be unwilling to breach any of the channel boundaries before long.
The most traded precious metal halted its 10-week long rally after it reached a four-month high of 1,332.39 on February 17. A rise to this level exhausted gold's potential as the yellow metal not only was unable to consolidate at the peak but also slumped to the lower limit of 115-bar long channel up pattern and breached it, suggesting that
Following a prolonged decline, AUD/NZD has finally managed to find firm support at 1.05 and start a recovery. However, considering that the currency pair has formed an ascending broadening wedge, this is unlikely to be a reversal of the general bearish trend. Eventually, the lower boundary of the pattern is expected to give in and pave the way towards the