The single currency has been performing very well against the Aussie since late October, as during this period the pair soared more than 1700 pips. The most likely scenario is a move towards pattern's support or a 200-period SMA first, as market sentiment is strongly bearish (70%), while aggregate technical indicators on a 4H chart are sending ‘sell' signals.
The GBP/CAD currency couple will be highly volatile soon as the pair is approaching an apex point of the ascending triangle, which is 57-bar long. The outlook for the pair is strongly bearish even despite the fact technicals on a daily chart are sending ‘buy' signals. The first reason behind the bearish scenario is the fact recently bears made an
After topping out at 9.10 EUR/SEK started to trade in a down-trend and still seems to preserve the bearish momentum. However, the currency pair failed on several occasions to push through 8.75, thereby calling into question the ability of the Swedish Krona to continue outperforming the single European currency. Right now the exchange rate is probing the resistance between 8.87
Already starting from last year's November the U.S. Dollar has been gaining value relative to its Singapore counterpart. Recently, however, USD/SGD started falling. But, given that the support at 1.2740 withstands the bearish pressure, this will be only a downward correction without any implications for the general bullish trend. Accordingly, we will expect the greenback to appreciate until the price
This a good time to trade NZD/CAD as the pair has recently broken through the lower boundary of the rising wedge pattern formed in early January. The likelihood that the breakout is real is high given weakness of the pair after it failed to re-approach a six-year high of 0.9286. If the pair extends its slump and plunges beneath a
It seems worth examining the descending triangle pattern formed by EUR/GBP one more time as several pair's attempts to break out of the pattern in both directions proved to be unsuccessful. Now the pair is trading below the pattern's support line at 0.8241, albeit slightly, raising the question whether the breakout is real. Some factors like proximity of the apex
Having hit a five-month high, the Australian Dollar started to lose ground versus its U.S. counterpart and in mid-November the pair entered a channel down pattern. Being a subject to a heavy selling pressure, the currency couple plunged to a five-year low of 0.8664 several days ago and despite recovering and even to surpassing its 50-bar SMA, the pair is
A rally of EUR/CHF observed in the second part of December was followed by a sharp decline. Whilst falling, the pair has been locked in the corridor created by two downward sloping lines that have been restricting the pair's moves for 216 hours. At the moment, EUR/CHF is faltering above a one-month low of 1.2213, and may dive below this
A 104-bar long rising wedge was formed by NZD/CAD on January 2, and since then the pair has been appreciating steadily. While technical indicators are either neutral or sending ‘buy' signals, the fact the recent high was lower than the previous one is raising concerns the rally is running out of steam and soon pattern's support will be breached. At
The EUR/GBP currency pair has been moving in boundaries of a channel down pattern since the middle of December. Despite a recent bullish movement and an attempt to break the upper trend line, the outlook is still bearish. Market sentiment is not clearly marked, as the number of short and long positions in almost equal. Technical indicators, however, are suggesting
After touching the 200-period SMA early this year, EUR/CAD managed to regain its bullish momentum. Eventually, this has led to formation of the bullish channel on the four-hour chart.Accordingly, in the short run it is expected that the single European currency will first descend down to the lower up-trend line at 1.5069 (also the weekly pivot point) as a part
Although for some time the 200-period SMA was able to keep the exchange rate afloat, eventually the bears pushed through the support and started a sell-off that later on turned into a downward-sloping channel. This implies that AUD/CHF is highly unlikely to rise above the falling resistance line at 0.7865 in the nearest future. Instead, the Australian Dollar is expected
The most traded precious metal has been rebounding after a plunge under $1,200 per ounce in the very end of 2013 and since January 22 the bullion followed a pronounced upward trend that has been developing within limits of the wide channel up pattern. Recently, the yellow metal managed to attain a two-month high of 1,279.64 but it failed
A 837-pips wide channel up pattern was formed by USD/NOK on one-hour chart about 90 hours ago. The tunnel originated at a one-week low of 6.0856, while a recent stab of the pair to the corridor's upper limit allowed USD/NOK to approach a three-week high of 6.2183. Meanwhile, the currency couple may be willing to escalate even higher considering
NZD/USD started to shape a falling wedge in mid-January when it hit a three-month high of 0.8432. Since then the New Zealand Dollar has been gradually losing ground versus its U.S. counterpart; however, the pace of depreciation may even accelerate in future given that the pair dived below the lower boundary of pattern a few hours ago. Now NZD/USD represents
Since early January the U.S. Dollar has been rallying against its Canadian peer and on January 22 the pair embarked on a formation of an ascending triangle pattern. The upper boundary of the pattern that lies at the five-year high of 1.1175 failed to contain the advance of USD/CAD that recently has surpassed this formidable resistance, suggesting that that an
The single currency has been moving around 1.67 level against the Kiwi since October 30. At the moment of writing the pair was changing hands at the level, which is just slightly below the 200-period SMA, at 1.6473. Traders do not expect the common currency to recover against the Kiwi in the nearest future, as the Euro is sold in
AUD/NZD has been moving to the south since March and during this period of time the pair lost more than 2000 pips, making it highly attractive for traders. The short-term outlook is bullish, as 4H technical are sending "buy" signals, while 73% of traders are holding long positions on the pair. It seems that after moving back to pattern's resistance
This year the Canadian Dollar has been losing value relative to the Japanese Yen, which has eventually led to formation of the descending triangle, being that CAD/JPY remains unable to penetrate the support at 92, which is reinforced by the daily S1 level. However, given that most of the four-hour and daily technical indicators are bearish right now, the break-out
Once the buying pressure that appeared near the 200-period SMA at the beginning of this year settled down, NZD/CAD started to trade within the boundaries of the bullish channel. However, the trend-lines forming it are still unreliable and need more confirmations in order to become accurate estimators of the potential reversal points.Right now the New Zealand Dollar is moving away
A drop to a two-year low of 0.8168 in mid-January helped the Euro to recover some losses against the British Pound. The rise has been developing within the area restricted by limits of the 140-bar long channel up pattern. Now is a good time to make some profits from the pair's moves given that a bearish correction is highly likely. The
Since early January the movements of AUD/SGD were bounded by two downward sloping lines that locked the pair in a 212-pips wide range. Surprisingly, while fluctuating within the limits of the wedge, the pair has not shown any willingness to break the chains created by the pattern. Having reached a five-year low of 1.095 in mid-January, the pair has been moving
After starting a triangle pattern, GBP/USD has become more volatile and while performing one of its large swings, it even managed to hit a two-year high of 1.6666. However, the pair is not likely to re-approach this peak given a graduate constriction of the trading range. At the moment the GBP/USD represents a lucrative opportunity for traders as it has almost
Recently, EUR/SEK has attempted to break though the upper limit of the 181-bar long descending triangle pattern that was started in mid-January. However, the pair failed to consolidate above the 200-hour SMA and came back to the triangle area. Now the currency couple is swinging between small gains and losses. Proximity of the apex suggests that a real breakout is